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

SPDR S&P Insurance ETF (NYSEARCA:KIE) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $60.87 and traded as high as $64.85. SPDR S&P Insurance ETF shares last traded at $64.72, with a volume of 1,179,554 shares changing hands.

SPDR S&P Insurance ETF Price Performance

The stock has a market capitalization of $640.73 million, a P/E ratio of 14.40 and a beta of 0.60. The company has a 50 day simple moving average of $60.87 and a 200-day simple moving average of $58.40.

Institutional Investors Weigh In On SPDR S&P Insurance ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd lifted its holdings in SPDR S&P Insurance ETF by 173,743.6% during the second quarter. Qube Research & Technologies Ltd now owns 259,027 shares of the exchange traded fund’s stock valued at $15,474,000 after purchasing an additional 258,878 shares during the last quarter. Millennium Management LLC purchased a new position in shares of SPDR S&P Insurance ETF in the fourth quarter worth about $15,137,000. Bank of America Corp DE raised its position in shares of SPDR S&P Insurance ETF by 68.9% in the first quarter. Bank of America Corp DE now owns 551,932 shares of the exchange traded fund’s stock valued at $30,356,000 after purchasing an additional 225,106 shares during the period. Jain Global LLC bought a new stake in shares of SPDR S&P Insurance ETF in the fourth quarter valued at approximately $8,368,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of SPDR S&P Insurance ETF by 9.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,486,296 shares of the exchange traded fund’s stock valued at $89,401,000 after buying an additional 123,462 shares in 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.