Financial Select Sector SPDR Fund (NYSEARCA:XLF) Reaches New 1-Year High – Here’s What Happened

by · The Markets Daily

Financial Select Sector SPDR Fund (NYSEARCA:XLF – Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $56.62 and last traded at $56.6430, with a volume of 5092817 shares changing hands. The stock had previously closed at $56.07.

Financial Select Sector SPDR Fund Price Performance

The stock has a market cap of $55.11 billion, a price-to-earnings ratio of 18.25 and a beta of 0.86. The business has a fifty day moving average of $52.89 and a 200 day moving average of $52.44.

Institutional Trading of Financial Select Sector SPDR Fund

Several large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in Financial Select Sector SPDR Fund by 22.9% in the fourth quarter. Bank of America Corp DE now owns 80,614,166 shares of the exchange traded fund’s stock worth $4,415,238,000 after purchasing an additional 15,014,591 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Financial Select Sector SPDR Fund by 1,130.6% during the 3rd quarter. Focus Partners Wealth now owns 10,987,886 shares of the exchange traded fund’s stock worth $591,917,000 after acquiring an additional 10,095,014 shares in the last quarter. PGIM Custom Harvest LLC acquired a new position in shares of Financial Select Sector SPDR Fund during the 3rd quarter valued at about $542,917,000. Two Sigma Investments LP grew its holdings in Financial Select Sector SPDR Fund by 478.6% during the third quarter. Two Sigma Investments LP now owns 10,814,100 shares of the exchange traded fund’s stock valued at $582,556,000 after purchasing an additional 8,945,030 shares during the last quarter. Finally, Cibc World Market Inc. grew its holdings in Financial Select Sector SPDR Fund by 662.0% during the fourth quarter. Cibc World Market Inc. now owns 3,145,684 shares of the exchange traded fund’s stock valued at $172,289,000 after purchasing an additional 3,705,455 shares during the last quarter. 72.51% of the stock is owned by institutional investors.

Financial Select Sector SPDR Fund Company Profile

(Get Free Report)

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.

Further Reading