Utilities Select Sector SPDR Fund (NYSEARCA:XLU) Stock Breaks Below 200-Day Moving Average – Here’s Why

Shares of Utilities Select Sector SPDR Fund (NYSEARCA:XLU) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $44.03 and traded as low as $41.44. Utilities Select Sector SPDR Fund shares last traded at $41.88, with a volume of 17,935,741 shares traded.

Utilities Select Sector SPDR Fund Trading Up 2.1%

The company has a market cap of $24.69 billion, a price-to-earnings ratio of 20.74 and a beta of 0.56. The firm has a 50-day moving average price of $41.88 and a 200 day moving average price of $43.97.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BIP Wealth LLC grew its stake in shares of Utilities Select Sector SPDR Fund by 10.8% in the third quarter. BIP Wealth LLC now owns 96,877 shares of the exchange traded fund’s stock valued at $3,821,000 after buying an additional 9,420 shares in the last quarter. MLP3 LLC lifted its position in shares of Utilities Select Sector SPDR Fund by 33.8% during the 3rd quarter. MLP3 LLC now owns 10,173 shares of the exchange traded fund’s stock worth $401,000 after buying an additional 2,572 shares during the last quarter. Compass Wealth Management LLC purchased a new stake in shares of Utilities Select Sector SPDR Fund in the 3rd quarter valued at about $30,000. Lake Street Private Wealth LLC boosted its stake in Utilities Select Sector SPDR Fund by 3.6% during the 3rd quarter. Lake Street Private Wealth LLC now owns 11,920 shares of the exchange traded fund’s stock worth $470,000 after purchasing an additional 416 shares during the period. Finally, CMH Wealth Management LLC boosted its stake in shares of Utilities Select Sector SPDR Fund by 6.7% during the third quarter. CMH Wealth Management LLC now owns 156,560 shares of the exchange traded fund’s stock worth $6,175,000 after buying an additional 9,844 shares during the period. 90.06% of the stock is currently owned by institutional investors and hedge funds.

About Utilities Select Sector SPDR Fund

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.