SPDR S&P Aerospace & Defense ETF (NYSEARCA:XAR) Sets New 1-Year High – Time to Buy?

Shares of SPDR S&P Aerospace & Defense ETF (NYSEARCA:XAR) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $201.98 and last traded at $198.86, with a volume of 17520 shares trading hands. The stock had previously closed at $201.10.

SPDR S&P Aerospace & Defense ETF Stock Down 0.8%

The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 34.73 and a beta of 1.07. The stock has a 50 day moving average of $183.67 and a 200 day moving average of $172.53.

Hedge Funds Weigh In On SPDR S&P Aerospace & Defense ETF

Several large investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its stake in shares of SPDR S&P Aerospace & Defense ETF by 247.5% in the first quarter. Envestnet Asset Management Inc. now owns 225,642 shares of the company’s stock worth $36,258,000 after acquiring an additional 160,704 shares during the period. LPL Financial LLC lifted its position in shares of SPDR S&P Aerospace & Defense ETF by 15.3% in the 4th quarter. LPL Financial LLC now owns 1,190,664 shares of the company’s stock worth $197,436,000 after purchasing an additional 157,742 shares during the period. Raymond James Financial Inc. acquired a new position in shares of SPDR S&P Aerospace & Defense ETF in the 4th quarter worth approximately $22,118,000. Wells Fargo & Company MN boosted its stake in shares of SPDR S&P Aerospace & Defense ETF by 60.2% in the 4th quarter. Wells Fargo & Company MN now owns 238,949 shares of the company’s stock valued at $39,623,000 after purchasing an additional 89,751 shares during the last quarter. Finally, Focus Partners Wealth increased its position in shares of SPDR S&P Aerospace & Defense ETF by 5,354.9% during the fourth quarter. Focus Partners Wealth now owns 90,224 shares of the company’s stock worth $14,961,000 after buying an additional 88,570 shares during the period.

About SPDR S&P Aerospace & Defense ETF

The SPDR S&P Aerospace & Defense ETF (XAR) is an exchange-traded fund that mostly invests in industrials equity. The fund tracks an equal-weighted index of US aerospace & defense companies. XAR was launched on Sep 28, 2011 and is managed by State Street.