SPDR S&P Insurance ETF (NYSEARCA:KIE) Sees Unusually-High Trading Volume – Should You Buy?

SPDR S&P Insurance ETF (NYSEARCA:KIE) saw an uptick in trading volume on Tuesday . 766,621 shares were traded during mid-day trading, a decline of 20% from the previous session’s volume of 961,922 shares.The stock last traded at $57.79 and had previously closed at $59.27.

SPDR S&P Insurance ETF Price Performance

The company has a fifty day moving average price of $58.54 and a 200 day moving average price of $54.79. The company has a market cap of $818.02 million, a PE ratio of 15.18 and a beta of 0.58.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD purchased a new stake in SPDR S&P Insurance ETF in the first quarter worth approximately $215,000. Fifth Third Securities Inc. boosted its stake in shares of SPDR S&P Insurance ETF by 6.9% in the 2nd quarter. Fifth Third Securities Inc. now owns 7,957 shares of the exchange traded fund’s stock valued at $396,000 after purchasing an additional 512 shares in the last quarter. Brookstone Capital Management raised its position in SPDR S&P Insurance ETF by 5.2% in the 2nd quarter. Brookstone Capital Management now owns 77,560 shares of the exchange traded fund’s stock worth $4,091,000 after purchasing an additional 3,838 shares during the period. 1858 Wealth Management LLC lifted its stake in SPDR S&P Insurance ETF by 13.4% in the second quarter. 1858 Wealth Management LLC now owns 14,722 shares of the exchange traded fund’s stock worth $734,000 after purchasing an additional 1,737 shares during the last quarter. Finally, Raymond James & Associates boosted its position in 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 buying an additional 122,709 shares during the period.

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.