Utilities Select Sector SPDR Fund (NYSEARCA:XLU) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Utilities Select Sector SPDR Fund (NYSEARCA:XLU)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $44.92 and traded as high as $46.33. Utilities Select Sector SPDR Fund shares last traded at $46.19, with a volume of 13,695,326 shares changing hands.

Utilities Select Sector SPDR Fund Stock Up 0.2%

The firm has a market cap of $23.99 billion, a PE ratio of 20.74 and a beta of 0.58. The business has a 50 day simple moving average of $44.97 and a two-hundred day simple moving average of $45.13.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in XLU. Bank of America Corp DE grew its stake in Utilities Select Sector SPDR Fund by 3.9% in the 1st quarter. Bank of America Corp DE now owns 28,041,814 shares of the exchange traded fund’s stock worth $1,286,839,000 after acquiring an additional 1,055,742 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Utilities Select Sector SPDR Fund by 92.6% in the fourth quarter. Morgan Stanley now owns 21,694,396 shares of the exchange traded fund’s stock valued at $926,134,000 after purchasing an additional 10,429,314 shares during the period. LPL Financial LLC boosted its holdings in shares of Utilities Select Sector SPDR Fund by 106.2% in the fourth quarter. LPL Financial LLC now owns 15,178,321 shares of the exchange traded fund’s stock valued at $647,962,000 after purchasing an additional 7,817,477 shares during the period. Wells Fargo & Company MN grew its stake in Utilities Select Sector SPDR Fund by 126.3% in the fourth quarter. Wells Fargo & Company MN now owns 12,732,033 shares of the exchange traded fund’s stock worth $543,531,000 after purchasing an additional 7,106,976 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in Utilities Select Sector SPDR Fund by 410.1% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,052,676 shares of the exchange traded fund’s stock worth $386,459,000 after purchasing an additional 7,277,976 shares in the last quarter. Hedge funds and other institutional investors own 90.06% of the company’s stock.

Utilities Select Sector SPDR Fund Company Profile

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. The Fund utilizes a passive or indexing investment approach to attempt to approximate the investment performance of the Index.