By Market News Video Staff, Friday, November 19, 2:15 PM ET
MBIA (NYSE:MBI) shares are surging Friday following a regulatory filing that disclosed share purchases by CEO Jay Brown. Brown bought 100,000 shares of the firm, at $10 each. The shares are trading higher by more than 6.5% today.
MBIA is a 3.10% holding of the SPDR KBW Insurance ETF (AMEX:KIE) which includes top holdings like Metlife (NYSE:MET) at 7.98% of the portfolio, Aflac (NYSE:AFL) at 7.78%, and Prudential Financial (NYSE:PRU) at 6.28%.
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