Utilities Select Sector SPDR Fund (NYSEARCA:XLU) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Utilities Select Sector SPDR Fund (NYSEARCA:XLU) saw unusually-strong trading volume on Friday. Approximately 27,220,156 shares were traded during mid-day trading, an increase of 15% from the previous session’s volume of 23,706,182 shares. The stock last traded at $40.0820 and had previously closed at $39.68.

Utilities Select Sector SPDR Fund Trading Up 0.4%

The firm has a 50-day moving average of $42.75 and a two-hundred day moving average of $44.45. The firm has a market capitalization of $21.35 billion, a P/E ratio of 20.74 and a beta of 0.57.

Institutional Investors Weigh In On Utilities Select Sector SPDR Fund

A number of institutional investors have recently made changes to their positions in XLU. Crescent Grove Advisors LLC lifted its stake in Utilities Select Sector SPDR Fund by 21.7% in the fourth quarter. Crescent Grove Advisors LLC now owns 5,653 shares of the exchange traded fund’s stock valued at $241,000 after buying an additional 1,007 shares during the period. Cibc World Market Inc. grew its stake in shares of Utilities Select Sector SPDR Fund by 39.9% during the 4th quarter. Cibc World Market Inc. now owns 2,728,566 shares of the exchange traded fund’s stock worth $116,482,000 after acquiring an additional 778,825 shares during the period. Evolution Wealth Management Inc. boosted its position in Utilities Select Sector SPDR Fund by 104.4% during the fourth quarter. Evolution Wealth Management Inc. now owns 836 shares of the exchange traded fund’s stock worth $36,000 after purchasing an additional 427 shares during the period. Transatlantique Private Wealth LLC boosted its holdings in Utilities Select Sector SPDR Fund by 100.0% in the 4th quarter. Transatlantique Private Wealth LLC now owns 6,696 shares of the exchange traded fund’s stock worth $286,000 after buying an additional 3,348 shares during the period. Finally, REAP Financial Group LLC bought a new position in shares of Utilities Select Sector SPDR Fund in the fourth quarter worth $86,000. Institutional investors own 90.06% of the company’s stock.

Utilities Select Sector SPDR Fund Company Profile

Select Sector Utilities Select Sector SPDR Fund (the Fund), formerly Utilities Select Sector SPDR Fund, seeks to provide investment results that correspond to the price and yield performance of the Utilities Select Sector of the S&P 500 Index (the Index). The Index includes companies from industries, such as electric utilities, multi-utilities, independent power producers and energy traders, and gas utilities. The Fund utilizes a passive or indexing investment approach to attempt to approximate the investment performance of the Index.