Financial Select Sector SPDR Fund (NYSEARCA:XLF) Hits New 12-Month High – Here’s What Happened

Shares of Financial Select Sector SPDR Fund (NYSEARCA:XLF) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $50.13 and last traded at $50.03, with a volume of 12815881 shares trading hands. The stock had previously closed at $49.74.

Financial Select Sector SPDR Fund Stock Performance

The company has a 50 day moving average of $46.29 and a 200-day moving average of $43.66. The stock has a market cap of $46.27 billion, a price-to-earnings ratio of 18.32 and a beta of 0.83.

Institutional Investors Weigh In On Financial Select Sector SPDR Fund

Hedge funds have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC increased its holdings in Financial Select Sector SPDR Fund by 5.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 22,764 shares of the exchange traded fund’s stock valued at $959,000 after buying an additional 1,076 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Financial Select Sector SPDR Fund by 17.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 108,968 shares of the exchange traded fund’s stock worth $4,590,000 after acquiring an additional 16,094 shares in the last quarter. Alerus Financial NA purchased a new stake in Financial Select Sector SPDR Fund during the first quarter worth approximately $1,458,000. Rockport Wealth LLC acquired a new position in Financial Select Sector SPDR Fund in the first quarter valued at approximately $288,000. Finally, Covestor Ltd increased its stake in Financial Select Sector SPDR Fund by 39.2% in the first quarter. Covestor Ltd now owns 1,224 shares of the exchange traded fund’s stock valued at $52,000 after purchasing an additional 345 shares during the last quarter.

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.