Financial Select Sector SPDR Fund (NYSEARCA:XLF) Hits New 1-Year High – Time to Buy?

Financial Select Sector SPDR Fund (NYSEARCA:XLF)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $49.32 and last traded at $49.21, with a volume of 7869707 shares. The stock had previously closed at $46.71.

Financial Select Sector SPDR Fund Price Performance

The firm has a market cap of $46.19 billion, a price-to-earnings ratio of 18.32 and a beta of 0.83. The company’s 50 day simple moving average is $45.80 and its 200 day simple moving average is $43.32.

Institutional Trading of Financial Select Sector SPDR Fund

A number of large investors have recently bought and sold shares of the business. Arlington Capital Management Inc. boosted its position in Financial Select Sector SPDR Fund by 4.1% in the 3rd quarter. Arlington Capital Management Inc. now owns 5,599 shares of the exchange traded fund’s stock valued at $254,000 after buying an additional 222 shares during the last quarter. One Wealth Management Investment & Advisory Services LLC raised its holdings in shares of Financial Select Sector SPDR Fund by 2.7% during the third quarter. One Wealth Management Investment & Advisory Services LLC now owns 8,419 shares of the exchange traded fund’s stock valued at $382,000 after buying an additional 224 shares during the last quarter. Sunbelt Securities Inc. grew its stake in shares of Financial Select Sector SPDR Fund by 7.1% in the second quarter. Sunbelt Securities Inc. now owns 3,541 shares of the exchange traded fund’s stock worth $146,000 after purchasing an additional 234 shares in the last quarter. Planning Capital Management Corp increased its stake in shares of Financial Select Sector SPDR Fund by 14.4% during the third quarter. Planning Capital Management Corp now owns 1,887 shares of the exchange traded fund’s stock valued at $86,000 after acquiring an additional 238 shares during the period. Finally, CMG Global Holdings LLC raised its position in Financial Select Sector SPDR Fund by 0.7% in the second quarter. CMG Global Holdings LLC now owns 34,425 shares of the exchange traded fund’s stock worth $1,415,000 after acquiring an additional 240 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.