SPDR S&P Oil & Gas Exploration & Production ETF $XOP Shares Sold by Cadence Wealth Management LLC

Cadence Wealth Management LLC cut its stake in SPDR S&P Oil & Gas Exploration & Production ETF (NYSEARCA:XOP) by 12.3% during the 1st quarter, HoldingsChannel reports. The firm owned 206,991 shares of the company’s stock after selling 28,933 shares during the quarter. SPDR S&P Oil & Gas Exploration & Production ETF accounts for about 15.7% of Cadence Wealth Management LLC’s portfolio, making the stock its 2nd largest position. Cadence Wealth Management LLC’s holdings in SPDR S&P Oil & Gas Exploration & Production ETF were worth $37,637,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Abound Wealth Management acquired a new stake in shares of SPDR S&P Oil & Gas Exploration & Production ETF in the fourth quarter valued at about $25,000. Godfrey Financial Associates Inc. acquired a new position in SPDR S&P Oil & Gas Exploration & Production ETF during the 4th quarter worth approximately $30,000. IFP Advisors Inc boosted its holdings in SPDR S&P Oil & Gas Exploration & Production ETF by 360.3% in the 3rd quarter. IFP Advisors Inc now owns 290 shares of the company’s stock worth $38,000 after acquiring an additional 227 shares during the period. Advisory Services Network LLC purchased a new position in SPDR S&P Oil & Gas Exploration & Production ETF in the 3rd quarter worth approximately $46,000. Finally, Advisors Preferred LLC acquired a new stake in SPDR S&P Oil & Gas Exploration & Production ETF in the first quarter valued at approximately $63,000.

More SPDR S&P Oil & Gas Exploration & Production ETF News

Here are the key news stories impacting SPDR S&P Oil & Gas Exploration & Production ETF this week:

• Positive Sentiment: Oil prices have stayed firm after a strong rally, with WTI and Brent holding above key technical levels as traders weigh the possibility of further upside if resistance breaks. Crude Oil Price Forecast: Breakout or Pullback Next?
• Positive Sentiment: Middle East tensions remain the dominant driver, with renewed U.S.-Iran conflict, reduced Strait of Hormuz traffic, and Red Sea shipping risks all increasing the chance of supply disruptions that can lift energy shares. Ships shun Strait of Hormuz as renewed fighting strains key oil corridor
• Positive Sentiment: Lower U.S. crude inventories and falling Strategic Petroleum Reserve stocks add support to oil prices, reinforcing a constructive backdrop for exploration-and-production companies held by XOP. Oil stocks in US Strategic Petroleum Reserve fall by 5.1 million barrels to lowest since 1983
• Neutral Sentiment: Some reports noted that oil pulled back at times as mediation efforts and mixed demand signals offset the conflict premium, suggesting volatility may stay high rather than move in one direction. Oil prices dip as mediation efforts offset US-Iran strikes
• Neutral Sentiment: Analyst and ETF commentary mainly reinforced that XOP is a broad energy exploration and production fund, with performance still closely tied to oil-price direction and sector sentiment. Should You Invest in the State Street SPDR S&P Oil & Gas Exploration & Production ETF (XOP)?

SPDR S&P Oil & Gas Exploration & Production ETF Stock Up 2.2%

Shares of NYSEARCA:XOP opened at $173.83 on Wednesday. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 11.28 and a beta of 0.53. The company has a 50 day moving average of $163.58 and a two-hundred day moving average of $158.75. SPDR S&P Oil & Gas Exploration & Production ETF has a 52-week low of $121.46 and a 52-week high of $190.36.

About SPDR S&P Oil & Gas Exploration & Production ETF

SPDR S&P Oil & Gas Exploration & Production ETF (the Fund) seeks to replicate as closely as possible the total return performance of the S&P Oil & Gas Exploration & Production Select Industry Index. The S&P Oil & Gas Exploration & Production Select Industry Index represents the oil and gas exploration and production sub-industry portion of the S&P Total Markets Index. The S&P TMI tracks all the United States common stocks listed on the New York Stock Exchange, American Stock Exchange, National Association of Securities Dealers Automated Quotation (NASDAQ) National Market and NASDAQ Small Cap exchanges.