Financial Select Sector SPDR Fund (NYSEARCA:XLF) Hits New 52-Week High – Time to Buy?

Shares of Financial Select Sector SPDR Fund (NYSEARCA:XLF) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $56.94 and last traded at $56.3310, with a volume of 42839011 shares traded. The stock had previously closed at $56.26.

Financial Select Sector SPDR Fund Stock Down 0.3%

The company has a market cap of $54.41 billion, a P/E ratio of 18.25 and a beta of 0.86. The company has a 50 day moving average price of $53.28 and a 200-day moving average price of $52.46.

Hedge Funds Weigh In On Financial Select Sector SPDR Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Butensky & Cohen Financial Security Inc. grew its position in Financial Select Sector SPDR Fund by 4.1% in the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 64,098 shares of the exchange traded fund’s stock valued at $3,436,000 after buying an additional 2,552 shares in the last quarter. Cabana LLC bought a new stake in shares of Financial Select Sector SPDR Fund during the 2nd quarter worth about $205,000. JFS Wealth Advisors LLC raised its position in shares of Financial Select Sector SPDR Fund by 5.4% during the 2nd quarter. JFS Wealth Advisors LLC now owns 55,509 shares of the exchange traded fund’s stock worth $2,976,000 after buying an additional 2,824 shares in the last quarter. Nolet Wealth Management LLC lifted its stake in shares of Financial Select Sector SPDR Fund by 12.1% in the 2nd quarter. Nolet Wealth Management LLC now owns 15,274 shares of the exchange traded fund’s stock worth $819,000 after acquiring an additional 1,650 shares during the period. Finally, Fiduciary Financial Group LLC lifted its stake in shares of Financial Select Sector SPDR Fund by 9.7% in the 2nd quarter. Fiduciary Financial Group LLC now owns 7,929 shares of the exchange traded fund’s stock worth $425,000 after acquiring an additional 703 shares during the period. Institutional investors own 72.51% of the company’s stock.

Financial Select Sector SPDR Fund Company Profile

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.