Utilities Select Sector SPDR Fund (NYSEARCA:XLU) Reaches New 52-Week High – What’s Next?

Utilities Select Sector SPDR Fund (NYSEARCA:XLU)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $47.08 and last traded at $46.7310, with a volume of 4256311 shares changing hands. The stock had previously closed at $46.50.

Utilities Select Sector SPDR Fund Price Performance

The firm has a 50-day moving average of $43.17 and a 200-day moving average of $43.57. The stock has a market cap of $23.87 billion, a PE ratio of 20.74 and a beta of 0.59.

Hedge Funds Weigh In On Utilities Select Sector SPDR Fund

Institutional investors have recently bought and sold shares of the stock. Morgan Stanley grew its position in shares of Utilities Select Sector SPDR Fund by 92.6% during the fourth quarter. Morgan Stanley now owns 21,694,396 shares of the exchange traded fund’s stock valued at $926,134,000 after purchasing an additional 10,429,314 shares in the last quarter. LPL Financial LLC boosted its stake in Utilities Select Sector SPDR Fund by 106.2% during the fourth quarter. LPL Financial LLC now owns 15,178,321 shares of the exchange traded fund’s stock valued at $647,962,000 after buying an additional 7,817,477 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Utilities Select Sector SPDR Fund by 410.1% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,052,676 shares of the exchange traded fund’s stock valued at $386,459,000 after buying an additional 7,277,976 shares in the last quarter. Wells Fargo & Company MN increased its stake in Utilities Select Sector SPDR Fund by 126.3% in the 4th quarter. Wells Fargo & Company MN now owns 12,732,033 shares of the exchange traded fund’s stock worth $543,531,000 after acquiring an additional 7,106,976 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Utilities Select Sector SPDR Fund by 103.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 9,087,078 shares of the exchange traded fund’s stock worth $742,051,000 after acquiring an additional 4,610,697 shares in the last quarter. 90.06% of the stock is owned by hedge funds and other institutional investors.

Utilities Select Sector SPDR Fund Company Profile

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.