Energy Select Sector SPDR Fund (NYSEARCA:XLE) Hits New 1-Year High – Here’s Why

Shares of Energy Select Sector SPDR Fund (NYSEARCA:XLE) reached a new 52-week high on Monday. The stock traded as high as $69.72 and last traded at $69.0680, with a volume of 38,636,116 shares traded. The stock had previously closed at $69.33.

Energy Select Sector SPDR Fund Stock Up 0.6%

The company has a market capitalization of $46.31 billion, a PE ratio of 15.59 and a beta of 0.48. The stock’s fifty day moving average price is $64.38 and its two-hundred day moving average price is $59.73.

Hedge Funds Weigh In On Energy Select Sector SPDR Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Leo Wealth LLC bought a new position in Energy Select Sector SPDR Fund during the third quarter valued at approximately $320,000. Apollon Wealth Management LLC increased its holdings in Energy Select Sector SPDR Fund by 18.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 91,158 shares of the exchange traded fund’s stock worth $5,606,000 after purchasing an additional 14,206 shares during the period. Kingswood Wealth Advisors LLC lifted its holdings in Energy Select Sector SPDR Fund by 6.4% during the third quarter. Kingswood Wealth Advisors LLC now owns 94,750 shares of the exchange traded fund’s stock worth $5,827,000 after buying an additional 5,710 shares during the period. Straight Path Wealth Management boosted its holdings in shares of Energy Select Sector SPDR Fund by 2.9% in the 3rd quarter. Straight Path Wealth Management now owns 6,648 shares of the exchange traded fund’s stock valued at $409,000 after buying an additional 188 shares in the last quarter. Finally, Financial Management Professionals Inc. raised its stake in Energy Select Sector SPDR Fund by 2,311.9% in the third quarter. Financial Management Professionals Inc. now owns 2,026 shares of the exchange traded fund’s stock valued at $125,000 after buying an additional 1,942 shares during the last quarter.

Energy Select Sector SPDR Fund Company Profile

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.