Financial Select Sector SPDR Fund (NYSEARCA:XLF) Sets New 1-Year High – What’s Next?

Financial Select Sector SPDR Fund (NYSEARCA:XLF) shares reached a new 52-week high on Monday . The stock traded as high as $56.19 and last traded at $56.3050, with a volume of 9668643 shares trading hands. The stock had previously closed at $54.93.

Financial Select Sector SPDR Fund Stock Up 2.7%

The stock’s 50-day moving average price is $53.50 and its 200-day moving average price is $53.08. The company has a market capitalization of $54.44 billion, a price-to-earnings ratio of 18.25 and a beta of 0.99.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC increased its position in shares of Financial Select Sector SPDR Fund by 585,941.9% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 228,614,958 shares of the exchange traded fund’s stock valued at $11,972,565,000 after buying an additional 228,575,948 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Financial Select Sector SPDR Fund by 16.4% in the third quarter. JPMorgan Chase & Co. now owns 133,084,547 shares of the exchange traded fund’s stock valued at $7,169,265,000 after acquiring an additional 18,724,516 shares during the period. Focus Partners Wealth grew its stake in Financial Select Sector SPDR Fund by 1,130.6% in the third quarter. Focus Partners Wealth now owns 10,987,886 shares of the exchange traded fund’s stock valued at $591,917,000 after acquiring an additional 10,095,014 shares during the period. PGIM Custom Harvest LLC bought a new stake in shares of Financial Select Sector SPDR Fund in the third quarter worth about $542,917,000. Finally, Two Sigma Investments LP raised its position in shares of Financial Select Sector SPDR Fund by 478.6% during the third quarter. Two Sigma Investments LP now owns 10,814,100 shares of the exchange traded fund’s stock worth $582,556,000 after purchasing an additional 8,945,030 shares during the period. 72.51% of the stock is currently owned by 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.