Utilities Select Sector SPDR Fund (NYSEARCA:XLU) Stock Price Crosses Below 200-Day Moving Average – Should You Sell?

Utilities Select Sector SPDR Fund (NYSEARCA:XLU) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $42.98 and traded as low as $42.55. Utilities Select Sector SPDR Fund shares last traded at $42.81, with a volume of 5,761,034 shares.

Utilities Select Sector SPDR Fund Price Performance

The business’s fifty day simple moving average is $44.11 and its two-hundred day simple moving average is $43.00. The company has a market cap of $21.61 billion, a PE ratio of 20.74 and a beta of 0.59.

Hedge Funds Weigh In On Utilities Select Sector SPDR Fund

A number of large investors have recently bought and sold shares of XLU. JPMorgan Chase & Co. increased its position in shares of Utilities Select Sector SPDR Fund by 103.0% in the second quarter. JPMorgan Chase & Co. now owns 9,087,078 shares of the exchange traded fund’s stock valued at $742,051,000 after buying an additional 4,610,697 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Utilities Select Sector SPDR Fund by 157.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,511,968 shares of the exchange traded fund’s stock valued at $306,279,000 after acquiring an additional 2,148,792 shares during the period. Menora Mivtachim Holdings LTD. increased its holdings in Utilities Select Sector SPDR Fund by 0.4% in the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 3,202,194 shares of the exchange traded fund’s stock worth $279,263,000 after acquiring an additional 14,000 shares in the last quarter. Raymond James Financial Inc. increased its holdings in Utilities Select Sector SPDR Fund by 82.0% in the 3rd quarter. Raymond James Financial Inc. now owns 3,176,383 shares of the exchange traded fund’s stock worth $277,012,000 after acquiring an additional 1,431,115 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Utilities Select Sector SPDR Fund by 4.2% during the third quarter. Ameriprise Financial Inc. now owns 2,834,692 shares of the exchange traded fund’s stock worth $247,260,000 after acquiring an additional 115,555 shares during the period. Institutional investors and hedge funds own 90.06% of the company’s stock.

About Utilities Select Sector SPDR Fund

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.