Cumberland Advisors Inc. bought a new stake in SPDR S&P Insurance ETF (NYSEARCA:KIE – Free Report) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 119,670 shares of the exchange traded fund’s stock, valued at approximately $7,001,000. SPDR S&P Insurance ETF accounts for 2.5% of Cumberland Advisors Inc.’s portfolio, making the stock its 11th biggest position.
A number of other hedge funds have also recently added to or reduced their stakes in KIE. Oppenheimer & Co. Inc. acquired a new stake in SPDR S&P Insurance ETF during the third quarter valued at $1,273,000. Segment Wealth Management LLC acquired a new position in shares of SPDR S&P Insurance ETF in the third quarter worth about $261,000. Manchester Capital Management LLC acquired a new position in shares of SPDR S&P Insurance ETF in the third quarter worth about $193,000. Ellis Investment Partners LLC acquired a new position in shares of SPDR S&P Insurance ETF in the third quarter worth about $1,380,000. Finally, Fifth Third Securities Inc. purchased a new stake in shares of SPDR S&P Insurance ETF during the 3rd quarter worth about $405,000.
SPDR S&P Insurance ETF Stock Down 0.8%
KIE stock opened at $64.37 on Wednesday. The company’s 50-day simple moving average is $62.01 and its 200-day simple moving average is $59.69. SPDR S&P Insurance ETF has a 52-week low of $53.44 and a 52-week high of $66.53. The firm has a market cap of $524.62 million, a P/E ratio of 14.40 and a beta of 0.57.
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.
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Want to see what other hedge funds are holding KIE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPDR S&P Insurance ETF (NYSEARCA:KIE – Free Report).
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