Utilities Select Sector SPDR Fund (NYSEARCA:XLU) Stock Passes Above 50 Day Moving Average – Here’s Why

Utilities Select Sector SPDR Fund (NYSEARCA:XLU)’s share price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $44.37 and traded as high as $46.95. Utilities Select Sector SPDR Fund shares last traded at $46.85, with a volume of 27,751,476 shares.

Utilities Select Sector SPDR Fund Price Performance

The firm has a market cap of $24.04 billion, a PE ratio of 20.74 and a beta of 0.59. The stock has a 50-day moving average price of $44.37 and a 200 day moving average price of $43.97.

Institutional Trading of Utilities Select Sector SPDR Fund

Hedge funds have recently added to or reduced their stakes in the business. Investment Partners LTD. raised its position in Utilities Select Sector SPDR Fund by 0.7% during the second quarter. Investment Partners LTD. now owns 39,091 shares of the exchange traded fund’s stock valued at $3,192,000 after buying an additional 264 shares during the period. Avalon Trust Co boosted its position in Utilities Select Sector SPDR Fund by 200.0% during the 2nd quarter. Avalon Trust Co now owns 1,500 shares of the exchange traded fund’s stock worth $122,000 after acquiring an additional 1,000 shares during the period. Good Life Advisors LLC boosted its position in Utilities Select Sector SPDR Fund by 17.2% during the 2nd quarter. Good Life Advisors LLC now owns 25,142 shares of the exchange traded fund’s stock worth $2,053,000 after acquiring an additional 3,692 shares during the period. Wealth Quarterback LLC grew its stake in Utilities Select Sector SPDR Fund by 43.0% during the 2nd quarter. Wealth Quarterback LLC now owns 34,562 shares of the exchange traded fund’s stock valued at $2,822,000 after acquiring an additional 10,398 shares in the last quarter. Finally, Verus Capital Partners LLC grew its stake in Utilities Select Sector SPDR Fund by 12.8% during the 2nd quarter. Verus Capital Partners LLC now owns 7,918 shares of the exchange traded fund’s stock valued at $647,000 after acquiring an additional 901 shares in the last quarter. 90.06% of the stock is owned by institutional investors and hedge funds.

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.