Financial Select Sector SPDR Fund (NYSEARCA:XLF) Sets New 52-Week High – Here’s Why

Financial Select Sector SPDR Fund (NYSEARCA:XLF) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $57.13 and last traded at $57.04, with a volume of 3396907 shares changing hands. The stock had previously closed at $56.31.

Financial Select Sector SPDR Fund Price Performance

The stock has a market cap of $57.43 billion, a P/E ratio of 18.25 and a beta of 0.86. The company’s 50 day simple moving average is $54.00 and its 200 day simple moving average is $52.51.

Hedge Funds Weigh In On Financial Select Sector SPDR Fund

Institutional investors and hedge funds have recently made changes to their positions in the company. Wexford Capital LP acquired a new position in Financial Select Sector SPDR Fund in the third quarter valued at about $29,000. Intesa Sanpaolo Wealth Management acquired a new stake in shares of Financial Select Sector SPDR Fund during the fourth quarter worth about $35,000. EQ Wealth Advisors LLC bought a new position in shares of Financial Select Sector SPDR Fund during the 4th quarter valued at about $39,000. Richards Merrill & Peterson Inc. bought a new position in shares of Financial Select Sector SPDR Fund during the 4th quarter valued at about $40,000. Finally, BankChampaign National Association bought a new position in shares of Financial Select Sector SPDR Fund during the 1st quarter valued at about $41,000. Institutional investors and hedge funds own 72.51% of the company’s stock.

Financial Select Sector SPDR Fund Company Profile

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.