Health Care Select Sector SPDR Fund (NYSEARCA:XLV) Reaches New 52-Week High – Still a Buy?

Health Care Select Sector SPDR Fund (NYSEARCA:XLV)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $161.47 and last traded at $161.8010, with a volume of 1170678 shares changing hands. The stock had previously closed at $159.54.

Health Care Select Sector SPDR Fund Stock Performance

The stock has a market capitalization of $41.50 billion, a PE ratio of 21.15 and a beta of 0.56. The business’s 50-day moving average price is $149.43 and its 200 day moving average price is $152.03.

Hedge Funds Weigh In On Health Care Select Sector SPDR Fund

A number of institutional investors have recently added to or reduced their stakes in XLV. Bank of America Corp DE boosted its position in shares of Health Care Select Sector SPDR Fund by 11.7% during the 1st quarter. Bank of America Corp DE now owns 31,021,559 shares of the exchange traded fund’s stock valued at $4,548,071,000 after acquiring an additional 3,259,957 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Health Care Select Sector SPDR Fund by 21.4% in the fourth quarter. JPMorgan Chase & Co. now owns 16,768,323 shares of the exchange traded fund’s stock worth $2,595,737,000 after purchasing an additional 2,957,648 shares during the last quarter. Focus Partners Wealth raised its stake in Health Care Select Sector SPDR Fund by 191.2% in the third quarter. Focus Partners Wealth now owns 2,739,901 shares of the exchange traded fund’s stock valued at $381,315,000 after purchasing an additional 1,799,103 shares in the last quarter. Rokos Capital Management LLP purchased a new stake in Health Care Select Sector SPDR Fund in the fourth quarter valued at approximately $256,589,000. Finally, State Street Corp lifted its position in Health Care Select Sector SPDR Fund by 897.6% during the second quarter. State Street Corp now owns 1,325,623 shares of the exchange traded fund’s stock valued at $178,681,000 after purchasing an additional 1,192,747 shares during the last quarter.

About Health Care Select Sector SPDR Fund

Health Care Select Sector SPDR Fund (the Fund) seeks to closely match the returns and characteristics of the S&P Health Care Select Sector Index (the Index). The companies included in the Index are selected on the basis of general industry classification from a universe of companies defined by the Standard & Poor’s 500 Composite Stock Index (S&P 500). The Health Care Select Sector Index includes companies from the industries, such as pharmaceuticals, healthcare providers and services, healthcare equipment and supplies, biotechnology, life sciences tools and services, and healthcare technology.