Utilities Select Sector SPDR Fund (NYSEARCA:XLU) Sets New 1-Year Low – What’s Next?

Utilities Select Sector SPDR Fund (NYSEARCA:XLU)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $41.51 and last traded at $41.6470, with a volume of 1754382 shares. The stock had previously closed at $41.82.

Utilities Select Sector SPDR Fund Price Performance

The stock has a fifty day moving average price of $43.93 and a two-hundred day moving average price of $44.98. The company has a market cap of $21.08 billion, a P/E ratio of 20.74 and a beta of 0.57.

Hedge Funds Weigh In On Utilities Select Sector SPDR Fund

Several large investors have recently bought and sold shares of the stock. LPL Financial LLC boosted its stake in Utilities Select Sector SPDR Fund by 106.2% in the fourth quarter. LPL Financial LLC now owns 15,178,321 shares of the exchange traded fund’s stock valued at $647,962,000 after acquiring an additional 7,817,477 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Utilities Select Sector SPDR Fund by 97.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,022,842 shares of the exchange traded fund’s stock worth $129,045,000 after purchasing an additional 1,492,404 shares during the last quarter. Electron Capital Partners LLC purchased a new stake in shares of Utilities Select Sector SPDR Fund during the 1st quarter worth approximately $56,915,000. BW Gestao de Investimentos Ltda. bought a new stake in shares of Utilities Select Sector SPDR Fund in the 4th quarter worth approximately $49,094,000. Finally, Bank of America Corp DE raised its holdings in shares of Utilities Select Sector SPDR Fund by 3.9% in the 1st quarter. Bank of America Corp DE now owns 28,041,814 shares of the exchange traded fund’s stock worth $1,286,839,000 after purchasing an additional 1,055,742 shares during the period. 90.06% of the stock is currently owned by institutional investors.

About Utilities Select Sector SPDR Fund

Select Sector Utilities Select Sector SPDR Fund (the Fund), formerly Utilities Select Sector SPDR Fund, seeks to provide investment results that correspond to the price and yield performance of the Utilities Select Sector of the S&P 500 Index (the Index). The Index includes companies from industries, such as electric utilities, multi-utilities, independent power producers and energy traders, and gas utilities. The Fund utilizes a passive or indexing investment approach to attempt to approximate the investment performance of the Index.