Financial Select Sector SPDR Fund (NYSEARCA:XLF) Shares Cross Above 200-Day Moving Average – Here’s Why

Financial Select Sector SPDR Fund (NYSEARCA:XLF)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $48.78 and traded as high as $50.45. Financial Select Sector SPDR Fund shares last traded at $50.18, with a volume of 32,261,211 shares changing hands.

Financial Select Sector SPDR Fund Price Performance

The stock has a market cap of $51.18 billion, a PE ratio of 16.71 and a beta of 1.06. The stock has a 50-day simple moving average of $50.54 and a 200-day simple moving average of $48.81.

Financial Select Sector SPDR Fund Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, March 26th. Investors of record on Monday, March 24th were issued a $0.1788 dividend. This is a positive change from Financial Select Sector SPDR Fund’s previous dividend of $0.16. The ex-dividend date of this dividend was Monday, March 24th.

Hedge Funds Weigh In On Financial Select Sector SPDR Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its stake in shares of Financial Select Sector SPDR Fund by 30.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 22,207,028 shares of the exchange traded fund’s stock valued at $1,073,266,000 after purchasing an additional 5,143,166 shares during the period. Raymond James Financial Inc. purchased a new stake in Financial Select Sector SPDR Fund during the 4th quarter worth $773,900,000. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Financial Select Sector SPDR Fund by 45.3% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 12,077,000 shares of the exchange traded fund’s stock worth $583,681,000 after buying an additional 3,766,000 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Financial Select Sector SPDR Fund by 2.4% in the 4th quarter. Ameriprise Financial Inc. now owns 10,330,247 shares of the exchange traded fund’s stock valued at $499,672,000 after buying an additional 244,456 shares during the last quarter. Finally, Truist Financial Corp grew its stake in shares of Financial Select Sector SPDR Fund by 25.6% during the fourth quarter. Truist Financial Corp now owns 10,021,492 shares of the exchange traded fund’s stock valued at $484,339,000 after acquiring an additional 2,040,919 shares in 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.