Energy Select Sector SPDR Fund (NYSEARCA:XLE) Reaches New 52-Week High – Still a Buy?

Energy Select Sector SPDR Fund (NYSEARCA:XLE)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $64.95 and last traded at $64.4720, with a volume of 3726340 shares changing hands. The stock had previously closed at $63.96.

Energy Select Sector SPDR Fund Stock Performance

The stock has a market capitalization of $42.24 billion, a price-to-earnings ratio of 15.59 and a beta of 0.42. The business has a fifty day simple moving average of $58.34 and a 200 day simple moving average of $57.71.

Hedge Funds Weigh In On Energy Select Sector SPDR Fund

Several hedge funds and other institutional investors have recently modified their holdings of XLE. Morgan Stanley lifted its stake in shares of Energy Select Sector SPDR Fund by 92.4% in the 4th quarter. Morgan Stanley now owns 29,438,378 shares of the exchange traded fund’s stock valued at $1,316,190,000 after acquiring an additional 14,135,733 shares during the last quarter. LPL Financial LLC grew its position in Energy Select Sector SPDR Fund by 99.8% during the 4th quarter. LPL Financial LLC now owns 12,874,212 shares of the exchange traded fund’s stock worth $575,606,000 after acquiring an additional 6,429,599 shares during the last quarter. Raymond James Financial Inc. increased its holdings in Energy Select Sector SPDR Fund by 108.0% in the 4th quarter. Raymond James Financial Inc. now owns 5,884,072 shares of the exchange traded fund’s stock worth $263,077,000 after purchasing an additional 3,054,557 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Energy Select Sector SPDR Fund by 92.3% in the 4th quarter. Hsbc Holdings PLC now owns 5,142,588 shares of the exchange traded fund’s stock worth $229,668,000 after purchasing an additional 2,467,904 shares in the last quarter. Finally, Main Management Fund Advisors LLC bought a new position in Energy Select Sector SPDR Fund in the fourth quarter valued at about $108,234,000.

About Energy Select Sector SPDR Fund

The Energy Select Sector SPDR ETF is a State Street exchange-traded fund that seeks to track the price and yield performance of the Energy Select Sector Index, before expenses. The index is designed to provide broad representation of the energy sector within the S&P 500, covering companies in the oil, gas and consumable fuels, and energy equipment and services industries. Component companies are selected from the S&P 500 universe based on general industry classification, and the Energy Select Sector Index is one of eleven Select Sector Indexes that together comprise all S&P 500 constituents.