Consumer Staples Select Sector SPDR Fund (NYSEARCA:XLP) Sets New 52-Week High – Here’s Why

Consumer Staples Select Sector SPDR Fund (NYSEARCA:XLP) shares reached a new 52-week high during trading on Friday. The stock traded as high as $90.38 and last traded at $89.4110, with a volume of 2,838,554 shares. The stock had previously closed at $88.18.

Consumer Staples Select Sector SPDR Fund Trading Up 1.4%

The firm has a market cap of $15.01 billion, a P/E ratio of 20.82 and a beta of 0.47. The business has a 50-day moving average price of $84.52 and a 200-day moving average price of $84.39.

Institutional Investors Weigh In On Consumer Staples Select Sector SPDR Fund

Large investors have recently modified their holdings of the business. Bank of America Corp DE grew its stake in Consumer Staples Select Sector SPDR Fund by 5.4% during the 1st quarter. Bank of America Corp DE now owns 24,702,456 shares of the exchange traded fund’s stock valued at $2,025,107,000 after acquiring an additional 1,275,550 shares in the last quarter. SPX Gestao de Recursos Ltda purchased a new position in shares of Consumer Staples Select Sector SPDR Fund during the 1st quarter worth $120,192,000. State Street Corp increased its stake in Consumer Staples Select Sector SPDR Fund by 70.6% during the second quarter. State Street Corp now owns 621,446 shares of the exchange traded fund’s stock worth $51,624,000 after acquiring an additional 257,266 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management boosted its position in shares of Consumer Staples Select Sector SPDR Fund by 7.4% during the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 525,334 shares of the exchange traded fund’s stock worth $42,342,000 after purchasing an additional 36,172 shares during the period. Finally, Renaissance Technologies LLC grew its position in Consumer Staples Select Sector SPDR Fund by 349.6% in the 1st quarter. Renaissance Technologies LLC now owns 500,000 shares of the exchange traded fund’s stock valued at $40,990,000 after acquiring an additional 388,800 shares in the last quarter.

Consumer Staples Select Sector SPDR Fund Company Profile

Consumer Staples Select Sector SPDR Fund (the Fund) seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of publicly traded equity securities of companies in The Consumer Staples Select Sector Index (the Index).The Fund typically invests in substantially all of the securities represented in the Index in approximately the same proportions as the Index. Under normal market conditions, the Fund generally invests substantially all, but at least 95%, of its total assets in the securities consisting of the Index.