Utilities Select Sector SPDR Fund (NYSEARCA:XLU) Sets New 12-Month High – Still a Buy?

Shares of Utilities Select Sector SPDR Fund (NYSEARCA:XLU) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $82.56 and last traded at $82.53, with a volume of 4251170 shares. The stock had previously closed at $81.60.

Utilities Select Sector SPDR Fund Trading Up 1.3 %

The firm has a market capitalization of $14.86 billion, a price-to-earnings ratio of 23.76 and a beta of 0.49. The company has a fifty day moving average price of $79.97 and a 200-day moving average price of $74.94.

Hedge Funds Weigh In On Utilities Select Sector SPDR Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its stake in shares of Utilities Select Sector SPDR Fund by 122,262.6% in the third quarter. International Assets Investment Management LLC now owns 11,855,717 shares of the exchange traded fund’s stock worth $957,705,000 after purchasing an additional 11,846,028 shares during the period. LPL Financial LLC grew its holdings in Utilities Select Sector SPDR Fund by 14.2% in the 3rd quarter. LPL Financial LLC now owns 5,624,545 shares of the exchange traded fund’s stock valued at $454,351,000 after buying an additional 701,150 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in Utilities Select Sector SPDR Fund by 1,054,889.4% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,492,015 shares of the exchange traded fund’s stock worth $282,085,000 after buying an additional 3,491,684 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Utilities Select Sector SPDR Fund by 6.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,324,000 shares of the exchange traded fund’s stock worth $268,513,000 after buying an additional 200,000 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Utilities Select Sector SPDR Fund by 1.8% in the second quarter. Envestnet Asset Management Inc. now owns 3,204,746 shares of the exchange traded fund’s stock valued at $218,371,000 after acquiring an additional 56,637 shares during the period.

About Utilities Select Sector SPDR Fund

Select Sector Utilities Select Sector SPDR Fund (the Fund), formerly Utilities Select Sector SPDR Fund, seeks to provide investment results that correspond to the price and yield performance of the Utilities Select Sector of the S&P 500 Index (the Index). The Index includes companies from industries, such as electric utilities, multi-utilities, independent power producers and energy traders, and gas utilities.