Utilities Select Sector SPDR Fund (NYSEARCA:XLU) Stock Passes Above 50 Day Moving Average – Here’s What Happened

Utilities Select Sector SPDR Fund (NYSEARCA:XLU)’s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $44.92 and traded as high as $46.33. Utilities Select Sector SPDR Fund shares last traded at $46.19, with a volume of 13,695,326 shares changing hands.

Utilities Select Sector SPDR Fund Stock Up 0.6%

The firm’s 50 day simple moving average is $44.92 and its 200-day simple moving average is $45.12. The company has a market capitalization of $23.94 billion, a PE ratio of 20.74 and a beta of 0.58.

Hedge Funds Weigh In On Utilities Select Sector SPDR Fund

Several hedge funds and other institutional investors have recently modified their holdings of XLU. Kelleher Financial Advisors purchased a new position in Utilities Select Sector SPDR Fund in the 4th quarter worth about $25,000. New Millennium Group LLC grew its stake in Utilities Select Sector SPDR Fund by 96.4% during the 4th quarter. New Millennium Group LLC now owns 599 shares of the exchange traded fund’s stock valued at $26,000 after acquiring an additional 294 shares in the last quarter. Piscataqua Savings Bank lifted its position in Utilities Select Sector SPDR Fund by 100.0% in the 4th quarter. Piscataqua Savings Bank now owns 600 shares of the exchange traded fund’s stock worth $26,000 after buying an additional 300 shares in the last quarter. Smithfield Trust Co lifted its holdings in shares of Utilities Select Sector SPDR Fund by 100.0% during the 4th quarter. Smithfield Trust Co now owns 600 shares of the exchange traded fund’s stock valued at $26,000 after buying an additional 300 shares during the last quarter. Finally, Davis Capital Management increased its stake in shares of Utilities Select Sector SPDR Fund by 100.0% during the 4th quarter. Davis Capital Management now owns 602 shares of the exchange traded fund’s stock worth $26,000 after purchasing an additional 301 shares during the last quarter. Institutional investors and hedge funds own 90.06% of the company’s stock.

About Utilities Select Sector SPDR Fund

Select Sector Utilities Select Sector SPDR Fund (the Fund), formerly Utilities Select Sector SPDR Fund, seeks to provide investment results that correspond to the price and yield performance of the Utilities Select Sector of the S&P 500 Index (the Index). The Index includes companies from industries, such as electric utilities, multi-utilities, independent power producers and energy traders, and gas utilities. The Fund utilizes a passive or indexing investment approach to attempt to approximate the investment performance of the Index.