SPDR S&P Insurance ETF (NYSEARCA:KIE) Reaches New 1-Year High – Here’s Why

SPDR S&P Insurance ETF (NYSEARCA:KIE)’s stock price reached a new 52-week high during mid-day trading on Thursday. The company traded as high as $67.19 and last traded at $66.9050, with a volume of 198,747 shares traded. The stock had previously closed at $65.78.

SPDR S&P Insurance ETF Stock Down 1.7%

The firm has a market capitalization of $559.24 million, a PE ratio of 14.40 and a beta of 0.57. The stock has a 50-day simple moving average of $62.08 and a 200-day simple moving average of $59.78.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KIE. Farther Finance Advisors LLC bought a new stake in shares of SPDR S&P Insurance ETF in the third quarter valued at approximately $30,000. Provident Wealth Management LLC purchased a new position in SPDR S&P Insurance ETF in the 3rd quarter worth approximately $47,000. AlphaCore Capital LLC bought a new position in shares of SPDR S&P Insurance ETF in the 3rd quarter worth $58,000. Ameritas Advisory Services LLC bought a new position in shares of SPDR S&P Insurance ETF in the 2nd quarter worth $86,000. Finally, IFP Advisors Inc increased its holdings in shares of SPDR S&P Insurance ETF by 185.2% in the 3rd quarter. IFP Advisors Inc now owns 1,617 shares of the exchange traded fund’s stock worth $95,000 after buying an additional 1,050 shares during the last quarter.

About SPDR S&P Insurance ETF

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.