Financial Select Sector SPDR Fund (NYSEARCA:XLF) Hits New 1-Year High – Still a Buy?

Shares of Financial Select Sector SPDR Fund (NYSEARCA:XLF) hit a new 52-week high during trading on Tuesday . The company traded as high as $56.59 and last traded at $56.3970, with a volume of 2793370 shares. The stock had previously closed at $56.14.

Financial Select Sector SPDR Fund Stock Up 0.4%

The firm’s fifty day moving average is $52.42 and its two-hundred day moving average is $52.40. The firm has a market cap of $54.30 billion, a P/E ratio of 18.25 and a beta of 0.86.

Hedge Funds Weigh In On Financial Select Sector SPDR Fund

A number of institutional investors have recently bought and sold shares of XLF. Wexford Capital LP purchased a new position in shares of Financial Select Sector SPDR Fund during the 3rd quarter worth approximately $29,000. Aventura Private Wealth LLC bought a new position in shares of Financial Select Sector SPDR Fund in the 4th quarter worth approximately $31,000. Intesa Sanpaolo Wealth Management purchased a new position in shares of Financial Select Sector SPDR Fund in the 4th quarter valued at approximately $35,000. EQ Wealth Advisors LLC purchased a new position in shares of Financial Select Sector SPDR Fund in the 4th quarter valued at approximately $39,000. Finally, Richards Merrill & Peterson Inc. purchased a new position in shares of Financial Select Sector SPDR Fund in the 4th quarter valued at approximately $40,000. 72.51% of the stock is owned by institutional investors.

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.