Industrial Select Sector SPDR Fund (NYSEARCA:XLI) Hits New 52-Week High – Time to Buy?

Industrial Select Sector SPDR Fund (NYSEARCA:XLI) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $160.02 and last traded at $160.2040, with a volume of 3650155 shares trading hands. The stock had previously closed at $157.98.

Industrial Select Sector SPDR Fund Stock Up 1.5%

The firm’s fifty day moving average price is $154.17 and its two-hundred day moving average price is $152.29. The stock has a market capitalization of $26.38 billion, a PE ratio of 24.30 and a beta of 1.07.

Hedge Funds Weigh In On Industrial Select Sector SPDR Fund

Several hedge funds and other institutional investors have recently modified their holdings of the company. Laurel Wealth Advisors LLC increased its position in Industrial Select Sector SPDR Fund by 17,584.4% during the second quarter. Laurel Wealth Advisors LLC now owns 1,952,891 shares of the exchange traded fund’s stock valued at $288,090,000 after acquiring an additional 1,941,848 shares during the last quarter. Focus Partners Wealth increased its position in shares of Industrial Select Sector SPDR Fund by 814.7% during the 3rd quarter. Focus Partners Wealth now owns 2,074,413 shares of the exchange traded fund’s stock valued at $319,937,000 after purchasing an additional 1,847,618 shares during the last quarter. Menora Mivtachim Holdings LTD. lifted its stake in shares of Industrial Select Sector SPDR Fund by 51.5% in the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 3,528,840 shares of the exchange traded fund’s stock worth $544,253,000 after purchasing an additional 1,200,000 shares during the period. PGIM Custom Harvest LLC purchased a new position in shares of Industrial Select Sector SPDR Fund in the third quarter worth approximately $183,767,000. Finally, Phoenix Financial Ltd. grew its position in Industrial Select Sector SPDR Fund by 85.5% during the second quarter. Phoenix Financial Ltd. now owns 2,444,375 shares of the exchange traded fund’s stock valued at $360,593,000 after buying an additional 1,126,334 shares during the period.

Industrial Select Sector SPDR Fund Company Profile

Industrial Select Sector SPDR Fund (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of publicly traded equity securities of companies in The Industrial Select Sector Index (the Index). The Index includes companies from the following industries, aerospace and defense; industrial conglomerates; machinery; road and rail; air freight & logistics; commercial services & supplies; professional services; electrical equipment; construction and engineering; trading companies and distributors; airlines, and building products.