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

Financial Select Sector SPDR Fund (NYSEARCA:XLF)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $54.58 and last traded at $54.5140, with a volume of 9051219 shares changing hands. The stock had previously closed at $53.89.

Financial Select Sector SPDR Fund Trading Up 0.1%

The business’s 50-day simple moving average is $52.83 and its 200 day simple moving average is $52.60. The company has a market capitalization of $55.37 billion, a P/E ratio of 18.25 and a beta of 0.99.

Institutional Trading of Financial Select Sector SPDR Fund

A number of hedge funds and other institutional investors have recently modified their holdings of XLF. Capitol Family Office Inc. raised its position in Financial Select Sector SPDR Fund by 0.8% in the third quarter. Capitol Family Office Inc. now owns 23,903 shares of the exchange traded fund’s stock worth $1,288,000 after acquiring an additional 189 shares in the last quarter. Liberty Wealth Management LLC grew its stake in shares of Financial Select Sector SPDR Fund by 2.4% in the 3rd quarter. Liberty Wealth Management LLC now owns 8,176 shares of the exchange traded fund’s stock worth $440,000 after purchasing an additional 195 shares during the last quarter. Telos Capital Management Inc. raised its holdings in shares of Financial Select Sector SPDR Fund by 0.3% in the 3rd quarter. Telos Capital Management Inc. now owns 59,757 shares of the exchange traded fund’s stock worth $3,219,000 after purchasing an additional 195 shares in the last quarter. Pettyjohn Wood & White Inc. lifted its stake in Financial Select Sector SPDR Fund by 1.5% during the second quarter. Pettyjohn Wood & White Inc. now owns 13,077 shares of the exchange traded fund’s stock valued at $685,000 after purchasing an additional 197 shares during the last quarter. Finally, Providence First Trust Co boosted its holdings in Financial Select Sector SPDR Fund by 2.1% during the third quarter. Providence First Trust Co now owns 9,484 shares of the exchange traded fund’s stock worth $511,000 after buying an additional 197 shares in the last quarter. Institutional investors 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.