SPDR S&P Insurance ETF (NYSEARCA:KIE) Sets New 12-Month High – Still a Buy?

SPDR S&P Insurance ETF (NYSEARCA:KIE) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $58.84 and last traded at $58.63, with a volume of 24024 shares. The stock had previously closed at $56.08.

SPDR S&P Insurance ETF Trading Up 4.5 %

The stock has a market capitalization of $820.54 million, a price-to-earnings ratio of 15.18 and a beta of 0.58. The firm has a 50-day moving average of $56.59 and a 200 day moving average of $53.11.

Hedge Funds Weigh In On SPDR S&P Insurance ETF

Several hedge funds have recently modified their holdings of the company. Fischer Investment Strategies LLC boosted its holdings in shares of SPDR S&P Insurance ETF by 119.6% in the second quarter. Fischer Investment Strategies LLC now owns 70,638 shares of the exchange traded fund’s stock worth $3,520,000 after buying an additional 38,476 shares during the period. Raymond James & Associates grew its position in SPDR S&P Insurance ETF by 261.0% during the 2nd quarter. Raymond James & Associates now owns 169,728 shares of the exchange traded fund’s stock worth $8,458,000 after purchasing an additional 122,709 shares in the last quarter. Capital CS Group LLC acquired a new stake in SPDR S&P Insurance ETF during the 2nd quarter valued at $215,000. Envestnet Asset Management Inc. boosted its position in SPDR S&P Insurance ETF by 11.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 90,620 shares of the exchange traded fund’s stock worth $4,516,000 after acquiring an additional 9,000 shares during the period. Finally, Global Trust Asset Management LLC grew its position in SPDR S&P Insurance ETF by 258.0% during the third quarter. Global Trust Asset Management LLC now owns 1,790 shares of the exchange traded fund’s stock valued at $102,000 after purchasing an additional 1,290 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.