Envestnet Portfolio Solutions Inc. Buys New Shares in SPDR S&P Oil & Gas Exploration & Production ETF $XOP

Envestnet Portfolio Solutions Inc. bought a new position in shares of SPDR S&P Oil & Gas Exploration & Production ETF (NYSEARCA:XOP) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 785,292 shares of the company’s stock, valued at approximately $121,139,000. Envestnet Portfolio Solutions Inc. owned about 3.63% of SPDR S&P Oil & Gas Exploration & Production ETF at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Continuum Advisory LLC bought a new position in shares of SPDR S&P Oil & Gas Exploration & Production ETF in the 2nd quarter valued at about $28,000. Compass Financial Management LLC bought a new stake in shares of SPDR S&P Oil & Gas Exploration & Production ETF in the 2nd quarter valued at about $34,000. Godfrey Financial Associates Inc. acquired a new stake in SPDR S&P Oil & Gas Exploration & Production ETF in the 4th quarter valued at about $30,000. Essential Partners LLC bought a new position in SPDR S&P Oil & Gas Exploration & Production ETF during the first quarter worth about $44,000. Finally, Capital Analysts LLC bought a new position in SPDR S&P Oil & Gas Exploration & Production ETF during the second quarter worth about $41,000.

Key Stories Impacting SPDR S&P Oil & Gas Exploration & Production ETF

Here are the key news stories impacting SPDR S&P Oil & Gas Exploration & Production ETF this week:

• Positive Sentiment: Oil prices recovered as traders focused on a potential global diesel shortage, supporting the earnings outlook for U.S. exploration and production companies held by XOP. Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As Traders Focus On Global Diesel Shortage
• Positive Sentiment: WTI bounced near its 50-day exponential moving average while Brent remained close to $100 per barrel, preserving a bullish technical outlook and helping energy equities recover. WTI and Brent Forecast: Oil Bulls Return at Key Support
• Positive Sentiment: A U.S. judge dismissed Michigan’s climate-related antitrust case against major oil companies, reducing a potential legal overhang for the broader oil industry. US judge dismisses Michigan climate lawsuit against oil companies

SPDR S&P Oil & Gas Exploration & Production ETF Price Performance

NYSEARCA XOP traded up $1.04 during trading on Wednesday, reaching $182.65. 5,076,067 shares of the company’s stock were exchanged, compared to its average volume of 4,147,855. The business has a 50 day moving average price of $181.78 and a 200-day moving average price of $172.40. The stock has a market capitalization of $3.95 billion, a P/E ratio of 11.28 and a beta of 0.54. SPDR S&P Oil & Gas Exploration & Production ETF has a fifty-two week low of $122.11 and a fifty-two week high of $200.89.

About SPDR S&P Oil & Gas Exploration & Production ETF

SPDR S&P Oil & Gas Exploration & Production ETF (the Fund) seeks to replicate as closely as possible the total return performance of the S&P Oil & Gas Exploration & Production Select Industry Index. The S&P Oil & Gas Exploration & Production Select Industry Index represents the oil and gas exploration and production sub-industry portion of the S&P Total Markets Index. The S&P TMI tracks all the United States common stocks listed on the New York Stock Exchange, American Stock Exchange, National Association of Securities Dealers Automated Quotation (NASDAQ) National Market and NASDAQ Small Cap exchanges.