Mirae Asset Securities USA Inc. Purchases 650,000 Shares of SPDR S&P Oil & Gas Exploration & Production ETF $XOP

Mirae Asset Securities USA Inc. acquired a new stake in SPDR S&P Oil & Gas Exploration & Production ETF (NYSEARCA:XOP) during the third quarter, HoldingsChannel reports. The fund acquired 650,000 shares of the company’s stock, valued at approximately $116,564,000. SPDR S&P Oil & Gas Exploration & Production ETF makes up approximately 3.6% of Mirae Asset Securities USA Inc.’s investment portfolio, making the stock its 3rd largest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in XOP. Envestnet Asset Management Inc. increased its position in SPDR S&P Oil & Gas Exploration & Production ETF by 4,563.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 893,627 shares of the company’s stock worth $137,851,000 after buying an additional 874,463 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of SPDR S&P Oil & Gas Exploration & Production ETF during the second quarter worth $121,139,000. Bessemer Group Inc. lifted its holdings in shares of SPDR S&P Oil & Gas Exploration & Production ETF by 28.0% during the first quarter. Bessemer Group Inc. now owns 629,152 shares of the company’s stock worth $114,399,000 after buying an additional 137,737 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of SPDR S&P Oil & Gas Exploration & Production ETF by 1,118.1% during the second quarter. Proficio Capital Partners LLC now owns 567,264 shares of the company’s stock worth $87,506,000 after buying an additional 520,694 shares in the last quarter. Finally, Rokos Capital Management LLP bought a new stake in shares of SPDR S&P Oil & Gas Exploration & Production ETF in the first quarter valued at about $55,271,000.

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

Shares of SPDR S&P Oil & Gas Exploration & Production ETF stock opened at $194.89 on Friday. The firm has a 50-day moving average of $187.41 and a 200-day moving average of $174.31. The stock has a market cap of $4.29 billion, a PE ratio of 11.28 and a beta of 0.64. SPDR S&P Oil & Gas Exploration & Production ETF has a 52-week low of $122.11 and a 52-week high of $200.89.

SPDR S&P Oil & Gas Exploration & Production ETF News Summary

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

• Positive Sentiment: U.S. inventories tightened significantly. Commercial crude stockpiles fell by 8.6 million barrels last week as imports and production declined while refinery utilization increased. The draw supports higher crude prices and could benefit XOP’s oil-producing constituents. U.S. Crude Oil Stockpiles Post Large Weekly Drop
• Positive Sentiment: Oil’s technical and geopolitical momentum remains supportive. WTI has continued its rebound toward the $100 area, aided by a bullish chart breakout. Attacks and shipping disruptions around the Strait of Hormuz, along with Saudi-Houthi tensions, continue to create a risk premium by threatening regional supply and transportation. WTI Price Forecast: Crude Oil Targets $100 as Bullish Momentum Builds
• Neutral Sentiment: Natural gas strength provides only limited support. Colder weather expectations lifted U.S. natural-gas futures ahead of inventory data, but XOP’s performance is driven primarily by its oil and gas exploration-and-production holdings, with crude prices currently the more important factor. U.S. Natural Gas Futures Gain Ahead of Storage Report
• Negative Sentiment: Planned emergency stock releases are weighing on prices. The International Energy Agency said total oil-stock releases will exceed 400 million barrels and will be accelerated, including more than 20 million barrels of diesel. The prospect of substantial additional supply may cap crude prices and pressure XOP. IEA says total oil stock release will exceed 400 million barrels
• Negative Sentiment: Supply and shipping concerns have eased somewhat. Gulf crude exports have recovered, Saudi Aramco is offering additional spot cargoes to Europe, and the U.S. is considering sanctions relief for shadow-fleet tankers to reduce freight costs. These developments have encouraged profit-taking in oil and help explain XOP’s weaker trading despite supportive inventory and geopolitical news. Saudi Aramco offers extra spot crude cargoes to Europe

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

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.