Financial Select Sector SPDR Fund (NYSEARCA:XLF) Hits New 52-Week High – Here’s What Happened

Financial Select Sector SPDR Fund (NYSEARCA:XLF)’s share price reached a new 52-week high during trading on Wednesday. The company traded as high as $58.80 and last traded at $58.6350, with a volume of 18,882,177 shares traded. The stock had previously closed at $57.19.

Financial Select Sector SPDR Fund Trading Up 3.0%

The firm has a 50-day moving average of $55.93 and a two-hundred day moving average of $53.78. The firm has a market capitalization of $54.94 billion, a P/E ratio of 18.25 and a beta of 0.85.

Institutional Trading of Financial Select Sector SPDR Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vestor Capital LLC grew its position in Financial Select Sector SPDR Fund by 831.7% during the 3rd quarter. Vestor Capital LLC now owns 80,658 shares of the exchange traded fund’s stock worth $4,307,000 after acquiring an additional 72,001 shares during the last quarter. Karnit Road Accident Victims Compensation Fund bought a new position in Financial Select Sector SPDR Fund in the 3rd quarter valued at approximately $309,000. Allspring Global Investments Holdings LLC increased its position in Financial Select Sector SPDR Fund by 2.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 132,315 shares of the exchange traded fund’s stock valued at $7,074,000 after acquiring an additional 3,758 shares during the period. 5th Street Advisors LLC raised its stake in shares of Financial Select Sector SPDR Fund by 0.4% during the third quarter. 5th Street Advisors LLC now owns 144,184 shares of the exchange traded fund’s stock valued at $7,699,000 after acquiring an additional 623 shares during the last quarter. Finally, Almanack Investment Partners LLC. bought a new position in shares of Financial Select Sector SPDR Fund during the third quarter valued at $1,380,000. Institutional investors own 72.51% of the company’s stock.

About Financial Select Sector SPDR Fund

The Fund seeks to provide investors with a low-cost passive approach for investing in a portfolio of equity securities of firms as represented by the Financial Select Sector Index.