Financial Select Sector SPDR Fund (NYSEARCA:XLF) Sets New 52-Week High – What’s Next?

Financial Select Sector SPDR Fund (NYSEARCA:XLF)’s stock price reached a new 52-week high on Thursday . The company traded as high as $47.54 and last traded at $47.54, with a volume of 75804 shares changing hands. The stock had previously closed at $47.48.

Financial Select Sector SPDR Fund Stock Performance

The company has a market capitalization of $44.54 billion, a price-to-earnings ratio of 18.32 and a beta of 0.83. The firm has a fifty day moving average price of $44.83 and a 200-day moving average price of $42.70.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Financial Select Sector SPDR Fund by 18.8% during the 1st quarter. JPMorgan Chase & Co. now owns 144,130,208 shares of the exchange traded fund’s stock valued at $6,070,764,000 after purchasing an additional 22,835,066 shares during the last quarter. LPL Financial LLC increased its holdings in Financial Select Sector SPDR Fund by 4.0% in the 2nd quarter. LPL Financial LLC now owns 13,783,914 shares of the exchange traded fund’s stock worth $566,657,000 after purchasing an additional 525,305 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Financial Select Sector SPDR Fund by 266.7% during the second quarter. Canada Pension Plan Investment Board now owns 11,000,000 shares of the exchange traded fund’s stock valued at $452,210,000 after purchasing an additional 8,000,000 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Financial Select Sector SPDR Fund by 31.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 10,798,325 shares of the exchange traded fund’s stock valued at $443,919,000 after buying an additional 2,566,731 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Financial Select Sector SPDR Fund by 6.6% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,328,231 shares of the exchange traded fund’s stock worth $468,075,000 after purchasing an additional 640,070 shares during the last quarter.

About Financial Select Sector SPDR Fund

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.