Financial Select Sector SPDR Fund (NYSEARCA:XLF) Sets New 1-Year High – Here’s What Happened

Shares of Financial Select Sector SPDR Fund (NYSEARCA:XLF) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $51.62 and last traded at $51.37, with a volume of 14297350 shares changing hands. The stock had previously closed at $51.16.

Financial Select Sector SPDR Fund Price Performance

The firm has a fifty day moving average of $47.28 and a 200 day moving average of $44.27. The stock has a market cap of $47.81 billion, a price-to-earnings ratio of 18.32 and a beta of 0.83.

Hedge Funds Weigh In On Financial Select Sector SPDR Fund

A number of institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board lifted its stake in shares of Financial Select Sector SPDR Fund by 266.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 11,000,000 shares of the exchange traded fund’s stock valued at $452,210,000 after purchasing an additional 8,000,000 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Financial Select Sector SPDR Fund by 31.2% in the second quarter. Envestnet Asset Management Inc. now owns 10,798,325 shares of the exchange traded fund’s stock valued at $443,919,000 after buying an additional 2,566,731 shares during the last quarter. Public Sector Pension Investment Board purchased a new position in Financial Select Sector SPDR Fund during the second quarter worth about $102,775,000. Raymond James & Associates increased its position in shares of Financial Select Sector SPDR Fund by 29.7% during the third quarter. Raymond James & Associates now owns 10,603,914 shares of the exchange traded fund’s stock valued at $480,569,000 after acquiring an additional 2,430,124 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Financial Select Sector SPDR Fund by 241,218,500.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,412,186 shares of the exchange traded fund’s stock valued at $108,930,000 after acquiring an additional 2,412,185 shares during the period.

About Financial Select Sector SPDR Fund

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.