Financial Select Sector SPDR Fund (NYSEARCA:XLF) Hits New 12-Month High – Should You Buy?

Shares of Financial Select Sector SPDR Fund (NYSEARCA:XLF) reached a new 52-week high on Friday . The company traded as high as $58.41 and last traded at $58.26, with a volume of 9595800 shares traded. The stock had previously closed at $57.88.

Financial Select Sector SPDR Fund Stock Up 0.5%

The business’s 50 day moving average is $56.39 and its 200-day moving average is $53.09. The firm has a market cap of $58.80 billion, a P/E ratio of 18.25 and a beta of 0.85.

Institutional Investors Weigh In On Financial Select Sector SPDR Fund

A number of institutional investors have recently modified their holdings of the stock. Brighton Jones LLC lifted its holdings in Financial Select Sector SPDR Fund by 11.9% during the 4th quarter. Brighton Jones LLC now owns 52,998 shares of the exchange traded fund’s stock worth $2,561,000 after buying an additional 5,622 shares during the last quarter. Bison Wealth LLC raised its position in shares of Financial Select Sector SPDR Fund by 2.8% during the 4th quarter. Bison Wealth LLC now owns 7,640 shares of the exchange traded fund’s stock valued at $369,000 after acquiring an additional 210 shares in the last quarter. AQR Capital Management LLC lifted its stake in Financial Select Sector SPDR Fund by 57.8% during the first quarter. AQR Capital Management LLC now owns 40,546 shares of the exchange traded fund’s stock worth $2,020,000 after purchasing an additional 14,844 shares during the last quarter. Empowered Funds LLC bought a new position in Financial Select Sector SPDR Fund during the first quarter worth $2,408,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Financial Select Sector SPDR Fund by 63.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 138,614 shares of the exchange traded fund’s stock worth $6,904,000 after purchasing an additional 53,614 shares during the last quarter. Institutional investors and hedge funds own 72.51% of the company’s stock.

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.