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

SPDR S&P Insurance ETF (NYSEARCA:KIE)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $57.76 and last traded at $57.75, with a volume of 847901 shares changing hands. The stock had previously closed at $57.33.

SPDR S&P Insurance ETF Stock Performance

The firm has a market capitalization of $814.94 million, a P/E ratio of 15.18 and a beta of 0.58. The stock’s 50 day simple moving average is $55.72 and its 200 day simple moving average is $52.37.

Institutional Investors Weigh In On SPDR S&P Insurance ETF

Several hedge funds have recently made changes to their positions in KIE. Raymond James & Associates boosted its stake in shares of SPDR S&P Insurance ETF by 261.0% during the second quarter. Raymond James & Associates now owns 169,728 shares of the exchange traded fund’s stock valued at $8,458,000 after purchasing an additional 122,709 shares in the last quarter. Kingsview Wealth Management LLC boosted its position in SPDR S&P Insurance ETF by 345.7% during the 1st quarter. Kingsview Wealth Management LLC now owns 130,814 shares of the exchange traded fund’s stock valued at $6,812,000 after acquiring an additional 101,462 shares in the last quarter. SPC Financial Inc. purchased a new position in shares of SPDR S&P Insurance ETF in the 3rd quarter valued at $4,747,000. Fortis Group Advisors LLC bought a new position in shares of SPDR S&P Insurance ETF in the 1st quarter worth $3,575,000. Finally, Mutual Advisors LLC purchased a new stake in shares of SPDR S&P Insurance ETF during the first quarter valued at about $3,090,000.

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.