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

Financial Select Sector SPDR Fund (NYSEARCA:XLF)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $49.32 and last traded at $49.21, with a volume of 7869707 shares traded. The stock had previously closed at $46.71.

Financial Select Sector SPDR Fund Price Performance

The company has a market cap of $46.19 billion, a price-to-earnings ratio of 18.32 and a beta of 0.83. The firm has a 50 day simple moving average of $45.80 and a 200-day simple moving average of $43.32.

Hedge Funds Weigh In On Financial Select Sector SPDR Fund

A number of hedge funds have recently made changes to their positions in the stock. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Financial Select Sector SPDR Fund in the 3rd quarter valued at $26,000. Rakuten Securities Inc. lifted its holdings in shares of Financial Select Sector SPDR Fund by 212.4% in the 3rd quarter. Rakuten Securities Inc. now owns 603 shares of the exchange traded fund’s stock valued at $27,000 after purchasing an additional 410 shares during the last quarter. Transcendent Capital Group LLC increased its position in Financial Select Sector SPDR Fund by 4,000.0% during the third quarter. Transcendent Capital Group LLC now owns 615 shares of the exchange traded fund’s stock worth $28,000 after buying an additional 600 shares during the period. Rational Advisors LLC purchased a new position in shares of Financial Select Sector SPDR Fund during the third quarter worth approximately $34,000. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Financial Select Sector SPDR Fund during the third quarter worth about $36,000.

Financial Select Sector SPDR Fund Company Profile

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.