Proficio Capital Partners LLC Has $87.51 Million Position in SPDR S&P Oil & Gas Exploration & Production ETF $XOP

Proficio Capital Partners LLC raised its stake in SPDR S&P Oil & Gas Exploration & Production ETF (NYSEARCA:XOP) by 1,118.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 567,264 shares of the company’s stock after buying an additional 520,694 shares during the quarter. SPDR S&P Oil & Gas Exploration & Production ETF accounts for about 3.2% of Proficio Capital Partners LLC’s portfolio, making the stock its 5th largest position. Proficio Capital Partners LLC owned approximately 2.69% of SPDR S&P Oil & Gas Exploration & Production ETF worth $87,506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in XOP. Godfrey Financial Associates Inc. bought a new stake in shares of SPDR S&P Oil & Gas Exploration & Production ETF in the 4th quarter valued at about $30,000. Essential Partners LLC bought a new position in SPDR S&P Oil & Gas Exploration & Production ETF during the 1st quarter worth approximately $44,000. IFP Advisors Inc boosted its stake in SPDR S&P Oil & Gas Exploration & Production ETF by 360.3% during the 3rd quarter. IFP Advisors Inc now owns 290 shares of the company’s stock worth $38,000 after acquiring an additional 227 shares during the last quarter. Advisors Preferred LLC bought a new position in SPDR S&P Oil & Gas Exploration & Production ETF during the 1st quarter worth approximately $63,000. Finally, Advisory Services Network LLC acquired a new position in SPDR S&P Oil & Gas Exploration & Production ETF during the third quarter valued at approximately $46,000.

SPDR S&P Oil & Gas Exploration & Production ETF Stock Performance

Shares of NYSEARCA:XOP opened at $188.96 on Tuesday. SPDR S&P Oil & Gas Exploration & Production ETF has a 52 week low of $122.11 and a 52 week high of $191.24. The company has a market capitalization of $3.99 billion, a PE ratio of 11.28 and a beta of 0.53. The company has a 50 day moving average price of $170.54 and a two-hundred day moving average price of $167.77.

SPDR S&P Oil & Gas Exploration & Production ETF News Summary

Here are the key news stories impacting SPDR S&P Oil & Gas Exploration & Production ETF this week:

• Positive Sentiment: Renewed U.S.-Iran strikes and severely disrupted tanker traffic through the Strait of Hormuz are raising concerns about near-term supply interruptions. WTI and Brent crude moved sharply higher, with analysts highlighting the possibility of additional gains if tensions escalate. Oil prices jump 3% to over $90 after US, Iran fire strikes for first time in a month
• Positive Sentiment: Falling U.S. Strategic Petroleum Reserve inventories, now at their lowest level since 1982, reduce the cushion available to offset a supply shock and may help sustain a geopolitical risk premium in crude prices. Oil stocks in US Strategic Petroleum Reserve fall by 3.1 million barrels to lowest level since 1982
• Neutral Sentiment: A proposed U.S.-Venezuela agreement could eventually expand oil production from 17 fields and provide supply outside major maritime chokepoints. However, its complex structure and development requirements mean any production increase is likely to take time. How are Caracas and Washington structuring a massive oil output deal?
• Negative Sentiment: U.S. natural-gas futures opened lower, creating a weaker backdrop for XOP’s gas-producing holdings, although the ETF’s oil exposure is more directly benefiting from the crude-price surge. U.S. Natural Gas Futures Start Week Lower

SPDR S&P Oil & Gas Exploration & Production ETF Company Profile

SPDR S&P Oil & Gas Exploration & Production ETF (the Fund) seeks to replicate as closely as possible the total return performance of the S&P Oil & Gas Exploration & Production Select Industry Index. The S&P Oil & Gas Exploration & Production Select Industry Index represents the oil and gas exploration and production sub-industry portion of the S&P Total Markets Index. The S&P TMI tracks all the United States common stocks listed on the New York Stock Exchange, American Stock Exchange, National Association of Securities Dealers Automated Quotation (NASDAQ) National Market and NASDAQ Small Cap exchanges.