SPDR S&P Telecom ETF (NYSEARCA:XTL) Sets New 12-Month High – Time to Buy?

SPDR S&P Telecom ETF (NYSEARCA:XTL) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $232.86 and last traded at $232.86, with a volume of 391 shares trading hands. The stock had previously closed at $224.07.

SPDR S&P Telecom ETF Stock Performance

The stock has a market capitalization of $787.38 million, a P/E ratio of 17.49 and a beta of 1.14. The stock has a 50-day simple moving average of $202.96 and a 200 day simple moving average of $173.26.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp boosted its position in shares of SPDR S&P Telecom ETF by 119.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 423 shares of the company’s stock worth $59,000 after purchasing an additional 230 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of SPDR S&P Telecom ETF in the 4th quarter worth $80,000. International Assets Investment Management LLC bought a new position in shares of SPDR S&P Telecom ETF in the 4th quarter worth $131,000. Harbour Investments Inc. bought a new position in shares of SPDR S&P Telecom ETF in the 4th quarter worth $150,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of SPDR S&P Telecom ETF in the 2nd quarter worth $200,000.

About SPDR S&P Telecom ETF

The SPDR S&P Telecom ETF (XTL) is an exchange-traded fund that is based on the S&P Telecom Select Industry index. The fund tracks an equal-weighted index of US telecom companies selected by the S&P Committee. XTL was launched on Jan 26, 2011 and is managed by State Street.