SPDR S&P Insurance ETF (NYSEARCA:KIE) Sees Large Growth in Short Interest

SPDR S&P Insurance ETF (NYSEARCA:KIE) was the recipient of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 4,547,256 shares, an increase of 28.4% from the February 26th total of 3,542,080 shares. Based on an average trading volume of 2,492,706 shares, the short-interest ratio is currently 1.8 days. Approximately 54.1% of the company’s stock are sold short.

SPDR S&P Insurance ETF Price Performance

KIE opened at $53.55 on Monday. The firm has a market cap of $449.82 million, a PE ratio of 14.40 and a beta of 0.74. The stock has a 50-day moving average price of $57.16 and a 200-day moving average price of $58.33. SPDR S&P Insurance ETF has a 1 year low of $52.37 and a 1 year high of $61.27.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in shares of SPDR S&P Insurance ETF by 705.9% during the fourth quarter. Farther Finance Advisors LLC now owns 411 shares of the exchange traded fund’s stock valued at $25,000 after buying an additional 360 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in SPDR S&P Insurance ETF by 75.9% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 788 shares of the exchange traded fund’s stock valued at $47,000 after purchasing an additional 340 shares during the last quarter. Allworth Financial LP increased its holdings in shares of SPDR S&P Insurance ETF by 1,728.1% in the 4th quarter. Allworth Financial LP now owns 1,042 shares of the exchange traded fund’s stock worth $63,000 after purchasing an additional 985 shares in the last quarter. CWM LLC increased its holdings in shares of SPDR S&P Insurance ETF by 1,162.8% in the 4th quarter. CWM LLC now owns 1,086 shares of the exchange traded fund’s stock worth $65,000 after purchasing an additional 1,000 shares in the last quarter. Finally, AlphaCore Capital LLC raised its stake in shares of SPDR S&P Insurance ETF by 103.6% in the fourth quarter. AlphaCore Capital LLC now owns 1,535 shares of the exchange traded fund’s stock worth $92,000 after purchasing an additional 781 shares during 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. 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.