SPDR S&P Fossil Fuel Reserves Free ETF (NYSEARCA:SPYX) Hits New 52-Week High – Still a Buy?

SPDR S&P Fossil Fuel Reserves Free ETF (NYSEARCA:SPYX) shares reached a new 52-week high during mid-day trading on Tuesday. The company traded as high as $64.02 and last traded at $64.0010, with a volume of 11982 shares trading hands. The stock had previously closed at $63.46.

SPDR S&P Fossil Fuel Reserves Free ETF Price Performance

The stock’s 50 day simple moving average is $62.72 and its two-hundred day simple moving average is $60.33. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 26.26 and a beta of 1.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its stake in shares of SPDR S&P Fossil Fuel Reserves Free ETF by 6.5% during the 1st quarter. Bank of America Corp DE now owns 1,011,233 shares of the company’s stock worth $53,626,000 after acquiring an additional 61,516 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of SPDR S&P Fossil Fuel Reserves Free ETF in the first quarter worth $2,630,000. Royal Bank of Canada boosted its holdings in SPDR S&P Fossil Fuel Reserves Free ETF by 21.8% during the first quarter. Royal Bank of Canada now owns 266,749 shares of the company’s stock worth $14,146,000 after purchasing an additional 47,737 shares during the last quarter. IMC Chicago LLC acquired a new position in SPDR S&P Fossil Fuel Reserves Free ETF during the first quarter worth $1,751,000. Finally, Advisory Solutions Group LLC bought a new position in SPDR S&P Fossil Fuel Reserves Free ETF in the second quarter valued at $1,789,000.

SPDR S&P Fossil Fuel Reserves Free ETF Company Profile

The SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) is an exchange-traded fund that is based on the S&P 500 Fossil Fuel Free index. The fund follows an S&P 500- based index excluding companies with known fossil fuel reserves. SPYX was launched on Nov 30, 2015 and is managed by State Street.