Financial Select Sector SPDR Fund (NYSEARCA:XLF) Reaches New 52-Week High – Should You Buy?

Financial Select Sector SPDR Fund (NYSEARCA:XLF) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $57.64 and last traded at $57.5520, with a volume of 5586587 shares traded. The stock had previously closed at $57.38.

Financial Select Sector SPDR Fund Trading Up 1.0%

The business’s fifty day moving average is $54.42 and its 200 day moving average is $52.56. The firm has a market capitalization of $59.47 billion, a P/E ratio of 18.25 and a beta of 0.86.

Institutional Investors Weigh In On Financial Select Sector SPDR Fund

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wexford Capital LP purchased a new stake in Financial Select Sector SPDR Fund during the third quarter valued at about $29,000. Intesa Sanpaolo Wealth Management purchased a new position in shares of Financial Select Sector SPDR Fund in the fourth quarter worth approximately $35,000. EQ Wealth Advisors LLC purchased a new position in shares of Financial Select Sector SPDR Fund in the fourth quarter worth approximately $39,000. Richards Merrill & Peterson Inc. acquired a new stake in shares of Financial Select Sector SPDR Fund during the fourth quarter valued at approximately $40,000. Finally, Financial Management Professionals Inc. acquired a new stake in shares of Financial Select Sector SPDR Fund during the second quarter valued at approximately $44,000. 72.51% of the stock is owned by institutional investors and hedge funds.

Financial Select Sector SPDR Fund Company Profile

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.