Financial Select Sector SPDR Fund (NYSEARCA:XLF – Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $53.09 and traded as high as $58.23. Financial Select Sector SPDR Fund shares last traded at $57.88, with a volume of 26,081,067 shares trading hands.
Financial Select Sector SPDR Fund Stock Performance
The stock’s 50-day moving average price is $56.48 and its 200-day moving average price is $53.12. The company has a market capitalization of $58.73 billion, a price-to-earnings ratio of 18.25 and a beta of 0.85.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Bank of America Corp DE raised its holdings in Financial Select Sector SPDR Fund by 6.7% in the 1st quarter. Bank of America Corp DE now owns 85,978,579 shares of the exchange traded fund’s stock valued at $4,244,762,000 after acquiring an additional 5,364,413 shares during the last quarter. Raymond James Financial Inc. grew its position in shares of Financial Select Sector SPDR Fund by 20.3% in the fourth quarter. Raymond James Financial Inc. now owns 16,288,590 shares of the exchange traded fund’s stock valued at $892,126,000 after purchasing an additional 2,753,084 shares during the period. Focus Partners Wealth increased its stake in Financial Select Sector SPDR Fund by 12.6% in the fourth quarter. Focus Partners Wealth now owns 12,376,864 shares of the exchange traded fund’s stock valued at $677,881,000 after purchasing an additional 1,388,978 shares during the last quarter. Two Sigma Investments LP increased its stake in Financial Select Sector SPDR Fund by 478.6% in the third quarter. Two Sigma Investments LP now owns 10,814,100 shares of the exchange traded fund’s stock valued at $582,556,000 after purchasing an additional 8,945,030 shares during the last quarter. Finally, PGIM Custom Harvest LLC purchased a new position in Financial Select Sector SPDR Fund during the third quarter worth about $542,917,000. 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.
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