SPDR S&P Insurance ETF (NYSEARCA:KIE) Reaches New 12-Month High – Should You Buy?

Shares of SPDR S&P Insurance ETF (NYSEARCA:KIE) hit a new 52-week high on Wednesday . The company traded as high as $65.20 and last traded at $64.41, with a volume of 1369771 shares trading hands. The stock had previously closed at $63.85.

SPDR S&P Insurance ETF Stock Up 0.9%

The firm has a 50 day simple moving average of $58.08 and a 200-day simple moving average of $57.87. The company has a market cap of $521.72 million, a PE ratio of 14.40 and a beta of 0.60.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC raised its stake in shares of SPDR S&P Insurance ETF by 705.9% during the 4th quarter. Farther Finance Advisors LLC now owns 411 shares of the exchange traded fund’s stock worth $25,000 after acquiring an additional 360 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in SPDR S&P Insurance ETF by 75.9% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 788 shares of the exchange traded fund’s stock valued at $47,000 after acquiring an additional 340 shares in the last quarter. Allworth Financial LP boosted its stake in SPDR S&P Insurance ETF by 1,728.1% in the fourth quarter. Allworth Financial LP now owns 1,042 shares of the exchange traded fund’s stock valued at $63,000 after acquiring an additional 985 shares in the last quarter. CWM LLC boosted its stake in SPDR S&P Insurance ETF by 1,162.8% in the fourth quarter. CWM LLC now owns 1,086 shares of the exchange traded fund’s stock valued at $65,000 after acquiring an additional 1,000 shares in the last quarter. Finally, AlphaCore Capital LLC grew its holdings in SPDR S&P Insurance ETF by 103.6% in the fourth quarter. AlphaCore Capital LLC now owns 1,535 shares of the exchange traded fund’s stock worth $92,000 after purchasing an additional 781 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.