SPDR S&P Insurance ETF (NYSEARCA:KIE) Stock Passes Above 50-Day Moving Average – Should You Sell?

SPDR S&P Insurance ETF (NYSEARCA:KIE) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $59.48 and traded as high as $60.11. SPDR S&P Insurance ETF shares last traded at $59.15, with a volume of 1,801,468 shares.

SPDR S&P Insurance ETF Stock Up 0.8%

The stock has a market capitalization of $500.64 million, a P/E ratio of 14.40 and a beta of 0.74. The company has a 50 day moving average of $59.47 and a 200-day moving average of $58.66.

Hedge Funds Weigh In On SPDR S&P Insurance ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. J.Safra Asset Management Corp grew its position in SPDR S&P Insurance ETF by 3.6% in the 3rd quarter. J.Safra Asset Management Corp now owns 696,591 shares of the exchange traded fund’s stock worth $41,322,000 after purchasing an additional 24,359 shares during the last quarter. Csenge Advisory Group boosted its position in shares of SPDR S&P Insurance ETF by 148.6% during the third quarter. Csenge Advisory Group now owns 157,159 shares of the exchange traded fund’s stock worth $9,323,000 after buying an additional 93,940 shares during the period. Integrity Alliance LLC. bought a new position in SPDR S&P Insurance ETF in the 2nd quarter worth approximately $443,000. Global Retirement Partners LLC acquired a new stake in SPDR S&P Insurance ETF in the 2nd quarter valued at approximately $1,104,000. Finally, Envestnet Asset Management Inc. raised its stake in SPDR S&P Insurance ETF by 13.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 216,707 shares of the exchange traded fund’s stock valued at $12,946,000 after acquiring an additional 24,853 shares in the last quarter.

SPDR S&P Insurance ETF Company Profile

The SPDR S&P Insurance ETF (the Fund), formerly SPDR KBW Insurance ETF, seeks to closely match the returns and characteristics of the S&P Banks Select Industry Index. The Fund invests all, but at least 80%, of its total assets in the securities comprising the Index. The Fund invests in all of the securities represented in the Index in approximately the same proportions as the Index. The S&P Banks Select Industry Index is a float adjusted modified-market, capitalization-weighted index that seeks to reflect the performance of publicly traded companies that do business as banks or thrifts.