Financial Select Sector SPDR Fund (NYSEARCA:XLF) Reaches New 52-Week High – Here’s Why

Financial Select Sector SPDR Fund (NYSEARCA:XLF) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $56.59 and last traded at $56.3970, with a volume of 2793370 shares. The stock had previously closed at $56.14.

Financial Select Sector SPDR Fund Price Performance

The firm has a market cap of $54.30 billion, a PE ratio of 18.25 and a beta of 0.86. The firm has a 50-day simple moving average of $52.42 and a 200 day simple moving average of $52.40.

Institutional Investors Weigh In On Financial Select Sector SPDR Fund

Hedge funds have recently bought and sold shares of the business. Banque Cantonale Vaudoise boosted its holdings in Financial Select Sector SPDR Fund by 73.3% in the third quarter. Banque Cantonale Vaudoise now owns 10,396 shares of the exchange traded fund’s stock worth $560,000 after acquiring an additional 4,397 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of Financial Select Sector SPDR Fund during the third quarter valued at $294,000. Tortoise Investment Management LLC raised its position in shares of Financial Select Sector SPDR Fund by 16.2% in the 3rd quarter. Tortoise Investment Management LLC now owns 5,366 shares of the exchange traded fund’s stock worth $289,000 after purchasing an additional 747 shares during the last quarter. Barometer Capital Management Inc. raised its position in shares of Financial Select Sector SPDR Fund by 11.5% in the 3rd quarter. Barometer Capital Management Inc. now owns 8,740 shares of the exchange traded fund’s stock worth $471,000 after purchasing an additional 900 shares during the last quarter. Finally, Crux Wealth Advisors raised its position in shares of Financial Select Sector SPDR Fund by 70.8% in the 3rd quarter. Crux Wealth Advisors now owns 7,411 shares of the exchange traded fund’s stock worth $399,000 after purchasing an additional 3,071 shares during the last quarter. Institutional investors own 72.51% of the company’s stock.

About Financial Select Sector SPDR Fund

The Fund seeks to provide investors with a low-cost passive approach for investing in a portfolio of equity securities of firms as represented by the Financial Select Sector Index.