Consumer Staples Select Sector SPDR Fund (NYSEARCA:XLP) Sets New 52-Week High – Here’s Why

Shares of Consumer Staples Select Sector SPDR Fund (NYSEARCA:XLP) reached a new 52-week high during mid-day trading on Friday. The company traded as high as $90.38 and last traded at $89.4110, with a volume of 2,838,554 shares changing hands. The stock had previously closed at $88.18.

Consumer Staples Select Sector SPDR Fund Trading Up 1.4%

The company has a market cap of $15.01 billion, a price-to-earnings ratio of 20.82 and a beta of 0.47. The firm’s fifty day simple moving average is $84.52 and its 200 day simple moving average is $84.39.

Hedge Funds Weigh In On Consumer Staples Select Sector SPDR Fund

Several institutional investors have recently added to or reduced their stakes in the stock. Integrity Alliance LLC. raised its position in Consumer Staples Select Sector SPDR Fund by 9.5% during the 3rd quarter. Integrity Alliance LLC. now owns 15,863 shares of the exchange traded fund’s stock worth $1,279,000 after buying an additional 1,375 shares during the last quarter. First Nebraska Trust Co acquired a new position in shares of Consumer Staples Select Sector SPDR Fund during the 3rd quarter worth $359,000. Gerber Kawasaki Wealth & Investment Management increased its holdings in shares of Consumer Staples Select Sector SPDR Fund by 7.4% in the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 525,334 shares of the exchange traded fund’s stock valued at $42,342,000 after purchasing an additional 36,172 shares in the last quarter. MBA Advisors LLC boosted its holdings in Consumer Staples Select Sector SPDR Fund by 33.3% during the third quarter. MBA Advisors LLC now owns 8,694 shares of the exchange traded fund’s stock worth $701,000 after buying an additional 2,174 shares in the last quarter. Finally, Salomon & Ludwin LLC grew its position in Consumer Staples Select Sector SPDR Fund by 1.5% during the third quarter. Salomon & Ludwin LLC now owns 114,779 shares of the exchange traded fund’s stock worth $9,251,000 after buying an additional 1,721 shares during the period.

About Consumer Staples Select Sector SPDR Fund

Consumer Staples Select Sector SPDR Fund (the Fund) seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of publicly traded equity securities of companies in The Consumer Staples Select Sector Index (the Index).The Fund typically invests in substantially all of the securities represented in the Index in approximately the same proportions as the Index. Under normal market conditions, the Fund generally invests substantially all, but at least 95%, of its total assets in the securities consisting of the Index.