Financial Select Sector SPDR Fund (NYSEARCA:XLF) Hits New 1-Year High – Here’s Why

Financial Select Sector SPDR Fund (NYSEARCA:XLF)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $51.64 and last traded at $51.61, with a volume of 4061956 shares traded. The stock had previously closed at $51.32.

Financial Select Sector SPDR Fund Price Performance

The firm has a 50-day moving average price of $49.56 and a two-hundred day moving average price of $46.79. The firm has a market capitalization of $48.02 billion, a P/E ratio of 18.32 and a beta of 0.83.

Institutional Trading of Financial Select Sector SPDR Fund

Several institutional investors and hedge funds have recently made changes to their positions in XLF. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Financial Select Sector SPDR Fund by 227.4% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,292,033 shares of the exchange traded fund’s stock worth $304,094,000 after purchasing an additional 4,370,382 shares in the last quarter. Raymond James & Associates raised its holdings in Financial Select Sector SPDR Fund by 29.7% in the third quarter. Raymond James & Associates now owns 10,603,914 shares of the exchange traded fund’s stock worth $480,569,000 after purchasing an additional 2,430,124 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Financial Select Sector SPDR Fund by 241,218,500.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,412,186 shares of the exchange traded fund’s stock worth $108,930,000 after purchasing an additional 2,412,185 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Financial Select Sector SPDR Fund by 44.0% in the third quarter. Janney Montgomery Scott LLC now owns 7,624,892 shares of the exchange traded fund’s stock worth $345,560,000 after purchasing an additional 2,328,824 shares in the last quarter. Finally, WestEnd Advisors LLC raised its holdings in Financial Select Sector SPDR Fund by 49.8% in the third quarter. WestEnd Advisors LLC now owns 6,478,315 shares of the exchange traded fund’s stock worth $293,597,000 after purchasing an additional 2,153,402 shares in the last quarter.

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.