Industrial Select Sector SPDR Fund (NYSEARCA:XLI) Hits New 52-Week High – Time to Buy?

Industrial Select Sector SPDR Fund (NYSEARCA:XLI)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $186.55 and last traded at $186.3050, with a volume of 6930960 shares changing hands. The stock had previously closed at $183.16.

Industrial Select Sector SPDR Fund Stock Performance

The stock has a market capitalization of $33.87 billion, a price-to-earnings ratio of 24.30 and a beta of 0.98. The business’s 50 day simple moving average is $179.14 and its 200-day simple moving average is $173.13.

Hedge Funds Weigh In On Industrial Select Sector SPDR Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in Industrial Select Sector SPDR Fund by 4.1% in the 1st quarter. Bank of America Corp DE now owns 12,326,564 shares of the exchange traded fund’s stock valued at $1,993,575,000 after acquiring an additional 491,019 shares during the period. Morgan Stanley raised its stake in Industrial Select Sector SPDR Fund by 9.2% during the 4th quarter. Morgan Stanley now owns 9,884,699 shares of the exchange traded fund’s stock valued at $1,533,315,000 after acquiring an additional 835,625 shares in the last quarter. Wells Fargo & Company MN boosted its position in Industrial Select Sector SPDR Fund by 31.6% during the 4th quarter. Wells Fargo & Company MN now owns 6,607,181 shares of the exchange traded fund’s stock worth $1,024,906,000 after acquiring an additional 1,585,209 shares during the period. LPL Financial LLC boosted its position in Industrial Select Sector SPDR Fund by 2.4% during the 4th quarter. LPL Financial LLC now owns 4,914,079 shares of the exchange traded fund’s stock worth $762,272,000 after acquiring an additional 114,153 shares during the period. Finally, Phoenix Financial Ltd. grew its stake in shares of Industrial Select Sector SPDR Fund by 159.8% in the fourth quarter. Phoenix Financial Ltd. now owns 3,950,353 shares of the exchange traded fund’s stock worth $612,778,000 after purchasing an additional 2,430,047 shares in the last quarter.

Industrial Select Sector SPDR Fund Company Profile

Industrial Select Sector SPDR Fund (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of publicly traded equity securities of companies in The Industrial Select Sector Index (the Index). The Index includes companies from the following industries, aerospace and defense; industrial conglomerates; machinery; road and rail; air freight & logistics; commercial services & supplies; professional services; electrical equipment; construction and engineering; trading companies and distributors; airlines, and building products.