Utilities Select Sector SPDR Fund (NYSEARCA:XLU) Shares Up 0.2% – Time to Buy?

Shares of Utilities Select Sector SPDR Fund (NYSEARCA:XLU) shot up 0.2% during mid-day trading on Wednesday. The company traded as high as $43.89 and last traded at $43.82. Approximately 16,023,580 shares were traded during mid-day trading, a decline of 35% from the average session volume of 24,524,641 shares. The stock had previously closed at $43.73.

Utilities Select Sector SPDR Fund Stock Up 0.5%

The company has a market cap of $23.84 billion, a P/E ratio of 18.34 and a beta of 0.55. The company has a 50 day moving average price of $41.87 and a 200-day moving average price of $44.30.

Institutional Trading of Utilities Select Sector SPDR Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Trivium Point Advisory LLC raised its holdings in Utilities Select Sector SPDR Fund by 0.8% during the third quarter. Trivium Point Advisory LLC now owns 50,295 shares of the exchange traded fund’s stock worth $1,984,000 after purchasing an additional 398 shares in the last quarter. Cladis Investment Advisory LLC raised its position in Utilities Select Sector SPDR Fund by 5.0% in the third quarter. Cladis Investment Advisory LLC now owns 37,532 shares of the exchange traded fund’s stock worth $1,480,000 after acquiring an additional 1,778 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in Utilities Select Sector SPDR Fund in the third quarter worth about $662,000. Smith Moore & CO. raised its position in Utilities Select Sector SPDR Fund by 3.4% in the third quarter. Smith Moore & CO. now owns 16,495 shares of the exchange traded fund’s stock worth $651,000 after acquiring an additional 548 shares in the last quarter. Finally, Denver Wealth Management Inc. lifted its holdings in Utilities Select Sector SPDR Fund by 57.2% in the 3rd quarter. Denver Wealth Management Inc. now owns 40,425 shares of the exchange traded fund’s stock valued at $1,594,000 after acquiring an additional 14,712 shares during the last quarter. 90.06% of the stock is currently owned by institutional investors.

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.