14,102 Shares of SPDR S&P Oil & Gas Exploration & Production ETF $XOP Acquired by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. bought a new position in SPDR S&P Oil & Gas Exploration & Production ETF (NYSEARCA:XOP) in the third quarter, HoldingsChannel reports. The fund bought 14,102 shares of the company’s stock, valued at approximately $2,529,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Concurrent Investment Advisors LLC grew its stake in shares of SPDR S&P Oil & Gas Exploration & Production ETF by 1,122.4% in the second quarter. Concurrent Investment Advisors LLC now owns 26,343 shares of the company’s stock worth $4,064,000 after acquiring an additional 24,188 shares during the period. Guardian Wealth Advisors LLC NC purchased a new position in shares of SPDR S&P Oil & Gas Exploration & Production ETF during the second quarter valued at approximately $751,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of SPDR S&P Oil & Gas Exploration & Production ETF during the second quarter valued at approximately $121,139,000. Tidal Investments LLC bought a new position in SPDR S&P Oil & Gas Exploration & Production ETF during the second quarter valued at approximately $1,235,000. Finally, Caxton Associates LLP bought a new position in SPDR S&P Oil & Gas Exploration & Production ETF during the first quarter valued at approximately $827,000.

SPDR S&P Oil & Gas Exploration & Production ETF Stock Down 2.9%

Shares of SPDR S&P Oil & Gas Exploration & Production ETF stock opened at $174.10 on Friday. SPDR S&P Oil & Gas Exploration & Production ETF has a twelve month low of $123.16 and a twelve month high of $206.05. The company’s 50 day moving average is $191.60 and its 200 day moving average is $171.29. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 11.28 and a beta of 0.59.

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: U.S. crude inventories fell for a fifth consecutive week, and distillate stocks reached their lowest level in more than two decades—tightness in these supplies could support oil prices. U.S. Crude Oil Stockpiles Post Fifth Straight Weekly Drop
• Positive Sentiment: Oil rebounded from a key technical support level as traders bought the dip; Russia’s warning against travel to Iran also offered some support to oil markets. Oil Rebounds As Traders Buy The Dip
• Negative Sentiment: Crude fell for a fourth day amid hopes of reduced Iran-war risk, easing geopolitical concerns that had supported prices. The decline can pressure XOP’s oil-producing holdings and investor appetite for the sector. Oil falls for a fourth day
• Negative Sentiment: JPMorgan warned that rising exports and weak demand could push the global oil market into surplus, a headwind for crude prices and producers’ revenues. JPMorgan says exports and weak demand could create oil surplus
• Negative Sentiment: Reports of recovering Gulf supply and Nigerian cargoes left unsold suggest physical oil demand may be weakening. A technical analysis also flagged a possible double top and broken uptrend channel, leaving further downside risk despite the rebound. Physical Oil Just Went From a Bidding War to a Fire Sale WTI Price Forecast

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.