Financial Select Sector SPDR Fund (NYSEARCA:XLF) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Financial Select Sector SPDR Fund (NYSEARCA:XLF)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $53.45 and traded as high as $57.11. Financial Select Sector SPDR Fund shares last traded at $56.87, with a volume of 25,337,350 shares changing hands.

Financial Select Sector SPDR Fund Trading Up 0.7%

The firm has a market capitalization of $57.87 billion, a PE ratio of 18.25 and a beta of 0.85. The firm’s fifty day moving average price is $57.16 and its 200 day moving average price is $53.48.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Continuum Advisory LLC lifted its holdings in shares of Financial Select Sector SPDR Fund by 1.9% during the 2nd quarter. Continuum Advisory LLC now owns 9,940 shares of the exchange traded fund’s stock valued at $533,000 after buying an additional 183 shares during the last quarter. Beacon Financial Advisory LLC raised its position in Financial Select Sector SPDR Fund by 1.1% during the fourth quarter. Beacon Financial Advisory LLC now owns 17,747 shares of the exchange traded fund’s stock valued at $972,000 after acquiring an additional 200 shares in the last quarter. Monetary Management Group Inc. raised its position in Financial Select Sector SPDR Fund by 0.6% during the second quarter. Monetary Management Group Inc. now owns 35,425 shares of the exchange traded fund’s stock valued at $1,855,000 after acquiring an additional 200 shares in the last quarter. Carson Advisory Inc. lifted its stake in Financial Select Sector SPDR Fund by 5.4% in the fourth quarter. Carson Advisory Inc. now owns 3,922 shares of the exchange traded fund’s stock valued at $215,000 after acquiring an additional 201 shares during the last quarter. Finally, Bison Wealth LLC lifted its stake in Financial Select Sector SPDR Fund by 2.8% in the fourth quarter. Bison Wealth LLC now owns 7,640 shares of the exchange traded fund’s stock valued at $369,000 after acquiring an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 72.51% of the company’s stock.

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.