SPDR S&P Insurance ETF (NYSEARCA:KIE) Shares Cross Below 50 Day Moving Average – Here’s What Happened

Shares of SPDR S&P Insurance ETF (NYSEARCA:KIE) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $56.49 and traded as low as $54.97. SPDR S&P Insurance ETF shares last traded at $55.26, with a volume of 976,198 shares traded.

SPDR S&P Insurance ETF Trading Up 1.9%

The stock’s 50-day simple moving average is $56.49 and its 200-day simple moving average is $57.80. The firm has a market capitalization of $436.55 million, a P/E ratio of 14.40 and a beta of 0.62.

Institutional Investors Weigh In On SPDR S&P Insurance ETF

A number of institutional investors have recently added to or reduced their stakes in KIE. Citigroup Inc. grew its position in SPDR S&P Insurance ETF by 267.0% in the 3rd quarter. Citigroup Inc. now owns 1,182,119 shares of the exchange traded fund’s stock worth $70,123,000 after purchasing an additional 860,043 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of SPDR S&P Insurance ETF by 44.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,412,312 shares of the exchange traded fund’s stock worth $83,778,000 after buying an additional 433,329 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of SPDR S&P Insurance ETF by 173,743.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 259,027 shares of the exchange traded fund’s stock worth $15,474,000 after buying 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 4th quarter worth about $15,137,000. Finally, Bank of America Corp DE boosted its holdings in shares of SPDR S&P Insurance ETF by 68.9% in the 1st quarter. Bank of America Corp DE now owns 551,932 shares of the exchange traded fund’s stock worth $30,356,000 after buying an additional 225,106 shares during 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.