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 stock price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $80.97 and traded as high as $81.44. Utilities Select Sector SPDR Fund shares last traded at $81.14, with a volume of 22,144,881 shares traded.

Utilities Select Sector SPDR Fund Stock Performance

The firm has a fifty day moving average price of $80.97 and a 200 day moving average price of $78.81. The stock has a market cap of $18.95 billion, a PE ratio of 20.74 and a beta of 0.52.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bessemer Group Inc. grew its stake in Utilities Select Sector SPDR Fund by 0.4% during the 1st quarter. Bessemer Group Inc. now owns 6,058,759 shares of the exchange traded fund’s stock worth $477,734,000 after buying an additional 23,921 shares during the last quarter. LPL Financial LLC increased its holdings in Utilities Select Sector SPDR Fund by 4.5% in the first quarter. LPL Financial LLC now owns 5,841,413 shares of the exchange traded fund’s stock valued at $460,595,000 after buying an additional 253,844 shares in the last quarter. Demars Financial Group LLC raised its holdings in Utilities Select Sector SPDR Fund by 11.3% during the first quarter. Demars Financial Group LLC now owns 4,200,361 shares of the exchange traded fund’s stock worth $331,198,000 after purchasing an additional 426,079 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Utilities Select Sector SPDR Fund in the 4th quarter worth about $258,000,000. Finally, Ameriprise Financial Inc. grew its position in shares of Utilities Select Sector SPDR Fund by 20.1% in the first quarter. Ameriprise Financial Inc. now owns 2,865,869 shares of the exchange traded fund’s stock valued at $226,912,000 after purchasing an additional 480,237 shares during the last quarter. 90.06% of the stock is currently 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.