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

Utilities Select Sector SPDR Fund (NYSEARCA:XLU)’s stock price hit a new 52-week low on Monday. The company traded as low as $39.13 and last traded at $39.1550, with a volume of 10821947 shares. The stock had previously closed at $39.51.

Utilities Select Sector SPDR Fund Price Performance

The business’s fifty day moving average is $43.22 and its 200-day moving average is $44.65. The firm has a market cap of $20.71 billion, a PE ratio of 20.74 and a beta of 0.57.

Institutional Investors Weigh In On Utilities Select Sector SPDR Fund

A number of hedge funds have recently modified their holdings of XLU. LPL Financial LLC boosted its position in Utilities Select Sector SPDR Fund by 106.2% during the fourth quarter. LPL Financial LLC now owns 15,178,321 shares of the exchange traded fund’s stock worth $647,962,000 after purchasing an additional 7,817,477 shares during the period. Janney Montgomery Scott LLC lifted 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 valued at $129,045,000 after buying an additional 1,492,404 shares in the last quarter. Electron Capital Partners LLC bought a new position in Utilities Select Sector SPDR Fund in the 1st quarter worth approximately $56,915,000. BW Gestao de Investimentos Ltda. purchased a new position in Utilities Select Sector SPDR Fund in the 4th quarter valued at approximately $49,094,000. Finally, Bank of America Corp DE grew its stake in 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 valued at $1,286,839,000 after buying an additional 1,055,742 shares in the last quarter. Institutional investors own 90.06% of the company’s stock.

Utilities Select Sector SPDR Fund Company Profile

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.