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Investors Add $207 Million to the Insurance ETF KIE

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Jan. 11 2016, Updated 10:06 a.m. ET

Fund flows

The SPDR S&P Insurance ETF (KIE) has added $207 million in assets in 2015. In comparison, during the prior year, the fund witnessed outflows of $139 million. During the week ending December 31, 2015, investors withdrew $21.3 million from the KIE ETF. In December, investors have withdrawn $56 million from the KIE ETF.

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Change in institutional investor holdings

Despite the negative flows, institutional investor holdings for the third quarter of 2015 show a positive picture for the insurance sector.

In the third quarter of 2015, trade activity by 13F filers displayed a 33% rise in aggregate shares that were held by institutional investors and hedge funds. Among the 67 13F filers holding the stock, 13 funds reduced their exposure to KIE while seven funds sold all their holdings of the ETF. In contrast, 17 funds created new positions, and 23 funds raised their exposure to the KIE ETF.

Major institutional asset management firms like Bank of Montreal, Goldman Sachs (GS), Morgan Stanley (MS), Brookstone Capital Management, and Clark Capital Management were among the top buyers of the KIE ETF during the third quarter of 2015. Institutions like Credit Suisse (CS), Bluecrest Capital Management, Susquehanna Capital Management, and Tower Research Capital were the largest sellers of shares of the ETF.

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