Financial Select Sector SPDR Fund (NYSEARCA:XLF) Sets New 52-Week High – What’s Next?

Shares of Financial Select Sector SPDR Fund (NYSEARCA:XLF) reached a new 52-week high on Monday . The company traded as high as $57.13 and last traded at $57.04, with a volume of 3396907 shares trading hands. The stock had previously closed at $56.31.

Financial Select Sector SPDR Fund Stock Up 1.0%

The firm has a market cap of $56.69 billion, a PE ratio of 18.25 and a beta of 0.86. The company’s 50 day moving average price is $53.77 and its two-hundred day moving average price is $52.49.

Hedge Funds Weigh In On Financial Select Sector SPDR Fund

Hedge funds have recently added to or reduced their stakes in the company. Wexford Capital LP bought a new position in shares of Financial Select Sector SPDR Fund during the third quarter valued at approximately $29,000. Intesa Sanpaolo Wealth Management bought a new stake in shares of Financial Select Sector SPDR Fund during the 4th quarter worth approximately $35,000. EQ Wealth Advisors LLC purchased a new position in Financial Select Sector SPDR Fund during the 4th quarter valued at $39,000. Richards Merrill & Peterson Inc. purchased a new position in Financial Select Sector SPDR Fund during the 4th quarter valued at $40,000. Finally, BankChampaign National Association bought a new position in Financial Select Sector SPDR Fund in the 1st quarter valued at $41,000. 72.51% of the stock is currently owned by institutional investors.

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.