Financial Select Sector SPDR Fund (NYSEARCA:XLF) Sets New 52-Week High – Here’s What Happened

Financial Select Sector SPDR Fund (NYSEARCA:XLF) reached a new 52-week high during trading on Friday . The company traded as high as $58.41 and last traded at $58.26, with a volume of 9595800 shares traded. The stock had previously closed at $57.88.

Financial Select Sector SPDR Fund Stock Up 0.5%

The firm’s 50 day moving average price is $56.39 and its two-hundred day moving average price is $53.09. The firm has a market capitalization of $58.80 billion, a PE ratio of 18.25 and a beta of 0.85.

Hedge Funds Weigh In On Financial Select Sector SPDR Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XLF. Montgomery Financial Services LLC acquired a new position in shares of Financial Select Sector SPDR Fund in the second quarter worth about $26,000. Wexford Capital LP acquired a new stake in Financial Select Sector SPDR Fund during the 3rd quarter valued at approximately $29,000. Strengthening Families & Communities LLC grew its stake in Financial Select Sector SPDR Fund by 96.6% during the 2nd quarter. Strengthening Families & Communities LLC now owns 576 shares of the exchange traded fund’s stock valued at $31,000 after purchasing an additional 283 shares in the last quarter. Intesa Sanpaolo Wealth Management purchased a new stake in Financial Select Sector SPDR Fund during the 4th quarter worth approximately $35,000. Finally, Outlook Capital Management LLC purchased a new stake in Financial Select Sector SPDR Fund during the 2nd quarter worth approximately $36,000. 72.51% of the stock is owned by hedge funds and other institutional investors.

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.