SPDR S&P Insurance ETF (NYSEARCA:KIE) Shares Pass Above 50-Day Moving Average – What’s Next?

SPDR S&P Insurance ETF (NYSEARCA:KIE) shares crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $61.94 and traded as high as $63.82. SPDR S&P Insurance ETF shares last traded at $63.51, with a volume of 792,770 shares.

SPDR S&P Insurance ETF Stock Down 0.2%

The company has a market cap of $628.75 million, a price-to-earnings ratio of 14.40 and a beta of 0.60. The company has a fifty day simple moving average of $61.94 and a two-hundred day simple moving average of $58.65.

Institutional Investors Weigh In On SPDR S&P Insurance ETF

Several institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP grew its stake in SPDR S&P Insurance ETF by 57.5% in the 2nd quarter. Marshall Wace LLP now owns 8,697 shares of the exchange traded fund’s stock valued at $520,000 after acquiring an additional 3,175 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in SPDR S&P Insurance ETF by 173,743.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 259,027 shares of the exchange traded fund’s stock valued at $15,474,000 after acquiring an additional 258,878 shares in the last quarter. Jane Street Group LLC acquired a new position in SPDR S&P Insurance ETF during the second quarter worth about $281,000. MGB Wealth Management LLC raised its position in SPDR S&P Insurance ETF by 113.8% during the second quarter. MGB Wealth Management LLC now owns 2,728 shares of the exchange traded fund’s stock worth $163,000 after acquiring an additional 1,452 shares during the last quarter. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of SPDR S&P Insurance ETF in the second quarter valued at about $1,696,000.

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.