Overview of KIE
The SPDR S&P Insurance ETF (KIE) invests in a portfolio of insurance stocks and seeks to provide returns that correspond to the S&P Insurance Select Industry Index, which is an equal-weighted index of insurance companies. Its equal weighting means that it’s tilted toward smaller companies.
KIE is the most liquid insurance ETF available in the country and is also among the cheapest, with an expense ratio of 0.35%. Its top holdings are Arch Capital Group (ACGL), CNO Financial Group (CNO), Assurant (AIZ), Progressive, and Ace (ACE).
In 2016 so far, shares of KIE have fallen 1.8%. Comparatively, the broad-based stock market represented by the S&P 500 SPDR ETF (SPY) has fallen 0.3% in the same period.
Moving average analysis
On March 24, 2016, KIE closed at $68.13, above its 100-day, 50-day, and 20-day moving averages of $68.02, $65.57, and $67.84, respectively.
The chart above shows that KIE broke above its 100-day moving average on March 14 and has been trending upward since. Technical analysts view this as a bullish sign.
The 14-day relative strength index (or RSI) for KIE is 55.4 as of March 24, 2016.[1. An RSI figure of below 30 is an indication of an oversold stock, while an RSI of above 70 denotes an overbought stock.]
Year-to-date, shares of KCE have fallen 11.2% as asset management companies have been hit hard by sharp falls in their trading commissions.
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