Financial Select Sector SPDR Fund (NYSEARCA:XLF) Hits New 1-Year High – Here’s Why

Financial Select Sector SPDR Fund (NYSEARCA:XLF)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $51.64 and last traded at $51.61, with a volume of 4061956 shares. The stock had previously closed at $51.32.

Financial Select Sector SPDR Fund Stock Performance

The company’s fifty day moving average is $49.56 and its 200-day moving average is $46.79. The company has a market capitalization of $48.02 billion, a PE ratio of 18.32 and a beta of 0.83.

Institutional Investors Weigh In On Financial Select Sector SPDR Fund

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its position in Financial Select Sector SPDR Fund by 29.7% in the third quarter. Raymond James & Associates now owns 10,603,914 shares of the exchange traded fund’s stock worth $480,569,000 after buying an additional 2,430,124 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in Financial Select Sector SPDR Fund by 6.6% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,328,231 shares of the exchange traded fund’s stock worth $468,075,000 after buying an additional 640,070 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Financial Select Sector SPDR Fund by 26.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 9,641,304 shares of the exchange traded fund’s stock worth $465,964,000 after buying an additional 2,016,412 shares during the last quarter. WestEnd Advisors LLC lifted its position in Financial Select Sector SPDR Fund by 27.7% in the fourth quarter. WestEnd Advisors LLC now owns 8,275,056 shares of the exchange traded fund’s stock worth $399,933,000 after buying an additional 1,796,741 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in Financial Select Sector SPDR Fund by 227.4% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,292,033 shares of the exchange traded fund’s stock worth $304,094,000 after buying an additional 4,370,382 shares during the last quarter.

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.