Health Care Select Sector SPDR Fund (NYSEARCA:XLV) Hits New 52-Week High – Still a Buy?

Health Care Select Sector SPDR Fund (NYSEARCA:XLV) reached a new 52-week high during trading on Wednesday. The company traded as high as $188.01 and last traded at $186.7550, with a volume of 2,124,462 shares. The stock had previously closed at $184.02.

Health Care Select Sector SPDR Fund Stock Performance

The firm’s fifty day simple moving average is $172.60 and its 200 day simple moving average is $159.06. The firm has a market cap of $49.39 billion, a P/E ratio of 21.15 and a beta of 0.52.

Hedge Funds Weigh In On Health Care Select Sector SPDR Fund

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its holdings in shares of Health Care Select Sector SPDR Fund by 11.7% in the 1st quarter. Bank of America Corp DE now owns 31,021,559 shares of the exchange traded fund’s stock worth $4,548,071,000 after purchasing an additional 3,259,957 shares during the period. TD Waterhouse Canada Inc. bought a new position in shares of Health Care Select Sector SPDR Fund in the third quarter worth about $62,435,000. Ayalon Insurance Comp Ltd. grew its stake in Health Care Select Sector SPDR Fund by 116.6% in the 3rd quarter. Ayalon Insurance Comp Ltd. now owns 441,909 shares of the exchange traded fund’s stock worth $74,426,000 after acquiring an additional 237,900 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in Health Care Select Sector SPDR Fund in the third quarter worth approximately $33,886,000. Finally, Money Concepts Capital Corp increased its stake in shares of Health Care Select Sector SPDR Fund by 1,153.6% during the first quarter. Money Concepts Capital Corp now owns 208,270 shares of the exchange traded fund’s stock valued at $30,534,000 after buying an additional 191,656 shares during the period.

About Health Care Select Sector SPDR Fund

Health Care Select Sector SPDR Fund (the Fund) seeks to closely match the returns and characteristics of the S&P Health Care Select Sector Index (the Index). The companies included in the Index are selected on the basis of general industry classification from a universe of companies defined by the Standard & Poor’s 500 Composite Stock Index (S&P 500). The Health Care Select Sector Index includes companies from the industries, such as pharmaceuticals, healthcare providers and services, healthcare equipment and supplies, biotechnology, life sciences tools and services, and healthcare technology.