Insurance Sector (KIE) Sees Serious Strength Today

May 14, 2009 2:49 PM EDT

The insurance sector is seeing significant strength today, as represented by the 6.7% move in the SPDR KBW Insurance ETF (NYSE: KIE). Recent data from KBW showed that short interest in the ETF rose 8% during the last two weeks of April. So today's move could be in part related to short covering.

A number of stocks in the sector are seeing moves above 20% today:

• Genworth Financial Inc. (NYSE: GNW) +26%
  
• Hartford Financial Services Group Inc. (NYSE: HIG) +21%
  
• Conseco Inc. (NYSE: CNO) +20%

Other movers in the sector include:

• Lincoln National Corp. (NYSE: LNC) +15%
  
• XL Capital Ltd. (NYSE: XL) +11%
  
• Principal Financial Group Inc. (NYSE: PFG) +8%
  
• MetLife, Inc. (NYSE: MET) +7%
  
• Prudential Financial, Inc. (NYSE: PRU) +7%
  
• Allstate Corp. (NYSE: ALL) +5%

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