Financial Select Sector SPDR Fund (NYSEARCA:XLF) Hits New 52-Week High – Should You Buy?

Shares of Financial Select Sector SPDR Fund (NYSEARCA:XLF) hit a new 52-week high on Tuesday . The stock traded as high as $56.59 and last traded at $56.3970, with a volume of 2793370 shares traded. The stock had previously closed at $56.14.

Financial Select Sector SPDR Fund Stock Performance

The business’s 50 day moving average is $52.67 and its 200-day moving average is $52.43. The stock has a market cap of $52.81 billion, a price-to-earnings ratio of 18.25 and a beta of 0.86.

Institutional Investors Weigh In On Financial Select Sector SPDR Fund

Several institutional investors have recently bought and sold shares of XLF. Argyle Capital Partners LLC grew its stake in Financial Select Sector SPDR Fund by 12.8% during the 3rd quarter. Argyle Capital Partners LLC now owns 8,858 shares of the exchange traded fund’s stock valued at $477,000 after acquiring an additional 1,007 shares in the last quarter. Volterra Technologies LP lifted its stake in Financial Select Sector SPDR Fund by 113.1% in the 3rd quarter. Volterra Technologies LP now owns 221,182 shares of the exchange traded fund’s stock worth $11,915,000 after purchasing an additional 117,383 shares in the last quarter. NorthRock Partners LLC boosted its holdings in shares of Financial Select Sector SPDR Fund by 3,639.1% during the 3rd quarter. NorthRock Partners LLC now owns 151,061 shares of the exchange traded fund’s stock worth $8,138,000 after purchasing an additional 147,021 shares during the last quarter. Regal Investment Advisors LLC boosted its holdings in shares of Financial Select Sector SPDR Fund by 39.4% during the 3rd quarter. Regal Investment Advisors LLC now owns 111,585 shares of the exchange traded fund’s stock worth $6,011,000 after purchasing an additional 31,532 shares during the last quarter. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in shares of Financial Select Sector SPDR Fund during the 3rd quarter worth approximately $657,000. 72.51% of the stock is currently owned by institutional investors and hedge funds.

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.