Financial Select Sector SPDR Fund (NYSEARCA:XLF) Hits New 1-Year High – Should You Buy?

Financial Select Sector SPDR Fund (NYSEARCA:XLF)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $57.64 and last traded at $57.5520, with a volume of 5586587 shares traded. The stock had previously closed at $57.38.

Financial Select Sector SPDR Fund Price Performance

The stock has a market capitalization of $58.63 billion, a P/E ratio of 18.25 and a beta of 0.85. The company’s 50 day simple moving average is $54.67 and its two-hundred day simple moving average is $52.61.

Institutional Trading of Financial Select Sector SPDR Fund

Several large investors have recently made changes to their positions in the business. Brighton Jones LLC raised its stake in shares of Financial Select Sector SPDR Fund by 11.9% in the fourth quarter. Brighton Jones LLC now owns 52,998 shares of the exchange traded fund’s stock worth $2,561,000 after acquiring an additional 5,622 shares during the last quarter. Bison Wealth LLC boosted its position in Financial Select Sector SPDR Fund by 2.8% in the 4th quarter. Bison Wealth LLC now owns 7,640 shares of the exchange traded fund’s stock valued at $369,000 after buying an additional 210 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Financial Select Sector SPDR Fund by 57.8% during the first quarter. AQR Capital Management LLC now owns 40,546 shares of the exchange traded fund’s stock worth $2,020,000 after acquiring an additional 14,844 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Financial Select Sector SPDR Fund during the first quarter valued at $2,408,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Financial Select Sector SPDR Fund by 63.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 138,614 shares of the exchange traded fund’s stock valued at $6,904,000 after acquiring an additional 53,614 shares during 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.