Financial Select Sector SPDR Fund (NYSEARCA:XLF) Sets New 1-Year High – Time to Buy?

Financial Select Sector SPDR Fund (NYSEARCA:XLF)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $47.54 and last traded at $47.54, with a volume of 75804 shares trading hands. The stock had previously closed at $47.48.

Financial Select Sector SPDR Fund Price Performance

The business’s 50 day moving average is $44.83 and its 200-day moving average is $42.70. The company has a market cap of $44.51 billion, a PE ratio of 18.32 and a beta of 0.83.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Asset Dedication LLC grew its holdings in Financial Select Sector SPDR Fund by 470.8% in the second quarter. Asset Dedication LLC now owns 879 shares of the exchange traded fund’s stock valued at $36,000 after purchasing an additional 725 shares during the last quarter. Field & Main Bank increased its holdings in Financial Select Sector SPDR Fund by 368.4% during the 2nd quarter. Field & Main Bank now owns 890 shares of the exchange traded fund’s stock valued at $37,000 after acquiring an additional 700 shares in the last quarter. ORG Partners LLC increased its holdings in Financial Select Sector SPDR Fund by 95.9% during the 3rd quarter. ORG Partners LLC now owns 956 shares of the exchange traded fund’s stock valued at $43,000 after acquiring an additional 468 shares in the last quarter. Olistico Wealth LLC acquired a new position in Financial Select Sector SPDR Fund during the second quarter worth about $47,000. Finally, Covestor Ltd lifted its holdings in shares of Financial Select Sector SPDR Fund by 39.2% in the first quarter. Covestor Ltd now owns 1,224 shares of the exchange traded fund’s stock valued at $52,000 after purchasing an additional 345 shares in the last quarter.

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.