Energy Select Sector SPDR Fund (NYSEARCA:XLE) Reaches New 12-Month High – Here’s Why

Energy Select Sector SPDR Fund (NYSEARCA:XLE) shares reached a new 52-week high on Monday. The company traded as high as $69.72 and last traded at $69.0680, with a volume of 38,636,116 shares traded. The stock had previously closed at $69.33.

Energy Select Sector SPDR Fund Stock Performance

The company has a market cap of $45.27 billion, a PE ratio of 15.59 and a beta of 0.48. The firm’s 50 day moving average is $64.61 and its 200-day moving average is $58.28.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Essential Investment Partners LLC acquired a new stake in shares of Energy Select Sector SPDR Fund during the third quarter worth about $743,000. Convergence Financial LLC acquired a new stake in shares of Energy Select Sector SPDR Fund in the third quarter valued at about $220,000. Sigma Investment Counselors Inc. boosted its holdings in Energy Select Sector SPDR Fund by 12.8% during the third quarter. Sigma Investment Counselors Inc. now owns 88,097 shares of the exchange traded fund’s stock worth $5,418,000 after buying an additional 10,024 shares in the last quarter. Victory Financial Group LLC boosted its holdings in Energy Select Sector SPDR Fund by 2.1% during the third quarter. Victory Financial Group LLC now owns 11,778 shares of the exchange traded fund’s stock worth $724,000 after buying an additional 237 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in Energy Select Sector SPDR Fund by 10.3% during the third quarter. Asset Management One Co. Ltd. now owns 19,515 shares of the exchange traded fund’s stock worth $1,200,000 after buying an additional 1,822 shares in the last quarter.

About Energy Select Sector SPDR Fund

The Energy Select Sector SPDR ETF is a State Street exchange-traded fund that seeks to track the price and yield performance of the Energy Select Sector Index, before expenses. The index is designed to provide broad representation of the energy sector within the S&P 500, covering companies in the oil, gas and consumable fuels, and energy equipment and services industries. Component companies are selected from the S&P 500 universe based on general industry classification, and the Energy Select Sector Index is one of eleven Select Sector Indexes that together comprise all S&P 500 constituents.