SPDR S&P Insurance ETF (NYSEARCA:KIE) Hits New 52-Week High – Still a Buy?

SPDR S&P Insurance ETF (NYSEARCA:KIE)’s share price hit a new 52-week high on Wednesday . The company traded as high as $59.66 and last traded at $59.56, with a volume of 512349 shares. The stock had previously closed at $59.35.

SPDR S&P Insurance ETF Stock Performance

The firm has a fifty day moving average of $56.96 and a 200-day moving average of $53.52. The stock has a market capitalization of $828.38 million, a price-to-earnings ratio of 15.18 and a beta of 0.58.

Hedge Funds Weigh In On SPDR S&P Insurance ETF

Several hedge funds and other institutional investors have recently bought and sold shares of KIE. Raymond James & Associates raised its stake in shares of SPDR S&P Insurance ETF by 16.7% during the third quarter. Raymond James & Associates now owns 198,120 shares of the exchange traded fund’s stock valued at $11,243,000 after purchasing an additional 28,392 shares during the period. Chicago Wealth Management Inc. grew its holdings in SPDR S&P Insurance ETF by 0.9% during the 2nd quarter. Chicago Wealth Management Inc. now owns 131,750 shares of the exchange traded fund’s stock valued at $6,565,000 after purchasing an additional 1,221 shares in the last quarter. Zimmermann Investment Management & Planning LLC increased its stake in SPDR S&P Insurance ETF by 18.9% during the 2nd quarter. Zimmermann Investment Management & Planning LLC now owns 95,178 shares of the exchange traded fund’s stock worth $4,743,000 after buying an additional 15,137 shares during the period. Envestnet Asset Management Inc. lifted its holdings in SPDR S&P Insurance ETF by 11.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 90,620 shares of the exchange traded fund’s stock worth $4,516,000 after buying an additional 9,000 shares in the last quarter. Finally, SPC Financial Inc. purchased a new position in SPDR S&P Insurance ETF in the 3rd quarter valued at about $4,747,000.

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.