Utilities Select Sector SPDR Fund (NYSEARCA:XLU) Sets New 52-Week Low – Here’s Why

Utilities Select Sector SPDR Fund (NYSEARCA:XLU)’s stock price reached a new 52-week low during trading on Monday. The stock traded as low as $39.13 and last traded at $39.1550, with a volume of 10821947 shares traded. The stock had previously closed at $39.51.

Utilities Select Sector SPDR Fund Stock Performance

The business has a 50 day simple moving average of $43.22 and a 200-day simple moving average of $44.65. The firm has a market cap of $20.71 billion, a price-to-earnings ratio of 20.74 and a beta of 0.57.

Hedge Funds Weigh In On Utilities Select Sector SPDR Fund

Several large investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its position in shares of Utilities Select Sector SPDR Fund by 3.9% during the first quarter. Bank of America Corp DE now owns 28,041,814 shares of the exchange traded fund’s stock valued at $1,286,839,000 after purchasing an additional 1,055,742 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Utilities Select Sector SPDR Fund by 106.2% in the 4th quarter. LPL Financial LLC now owns 15,178,321 shares of the exchange traded fund’s stock worth $647,962,000 after buying an additional 7,817,477 shares during the last quarter. Meitav Investment House Ltd. increased its position in shares of Utilities Select Sector SPDR Fund by 33.8% during the first quarter. Meitav Investment House Ltd. now owns 3,452,577 shares of the exchange traded fund’s stock valued at $158,439,000 after acquiring an additional 871,665 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Utilities Select Sector SPDR Fund by 13.5% in the first quarter. Janney Montgomery Scott LLC now owns 3,431,828 shares of the exchange traded fund’s stock worth $157,487,000 after purchasing an additional 408,986 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in Utilities Select Sector SPDR Fund by 5.1% in the 1st quarter. Cetera Investment Advisers now owns 2,949,282 shares of the exchange traded fund’s stock valued at $135,343,000 after purchasing an additional 144,224 shares during the period. 90.06% of the stock is currently owned by 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. The Fund utilizes a passive or indexing investment approach to attempt to approximate the investment performance of the Index.