Financial Select Sector SPDR Fund (NYSEARCA:XLF) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Financial Select Sector SPDR Fund (NYSEARCA:XLF)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $50.47 and traded as high as $53.68. Financial Select Sector SPDR Fund shares last traded at $53.57, with a volume of 47,245,461 shares.

Financial Select Sector SPDR Fund Price Performance

The stock’s 50 day moving average price is $52.18 and its two-hundred day moving average price is $50.47. The firm has a market capitalization of $53.67 billion, a price-to-earnings ratio of 18.25 and a beta of 1.07.

Institutional Trading of Financial Select Sector SPDR Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Kingstone Capital Partners Texas LLC lifted its stake in shares of Financial Select Sector SPDR Fund by 585,941.9% in the second quarter. Kingstone Capital Partners Texas LLC now owns 228,614,958 shares of the exchange traded fund’s stock worth $11,972,565,000 after buying an additional 228,575,948 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Financial Select Sector SPDR Fund by 37.7% in the first quarter. JPMorgan Chase & Co. now owns 150,005,730 shares of the exchange traded fund’s stock worth $7,471,814,000 after buying an additional 41,056,810 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Financial Select Sector SPDR Fund by 2,215.4% in the first quarter. Goldman Sachs Group Inc. now owns 48,726,146 shares of the exchange traded fund’s stock worth $2,427,049,000 after buying an additional 46,621,720 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Financial Select Sector SPDR Fund by 4.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 23,160,119 shares of the exchange traded fund’s stock valued at $1,153,606,000 after purchasing an additional 953,091 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in Financial Select Sector SPDR Fund by 11.1% in the 1st quarter. LPL Financial LLC now owns 21,067,825 shares of the exchange traded fund’s stock valued at $1,049,388,000 after purchasing an additional 2,102,141 shares during the period. 72.51% of the stock is currently owned by institutional investors and hedge funds.

Financial Select Sector SPDR Fund Company Profile

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.