Utilities Select Sector SPDR Fund Target of Unusually Large Options Trading (NYSEARCA:XLU)

Utilities Select Sector SPDR Fund (NYSEARCA:XLU) was the target of unusually large options trading activity on Tuesday. Traders bought 43,018 call options on the company. This is an increase of 46% compared to the typical daily volume of 29,520 call options.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of XLU. JPMorgan Chase & Co. increased its stake in Utilities Select Sector SPDR Fund by 103.0% during 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 purchasing an additional 4,610,697 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Utilities Select Sector SPDR Fund by 410.1% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,052,676 shares of the exchange traded fund’s stock valued at $386,459,000 after buying an additional 7,277,976 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Utilities Select Sector SPDR Fund by 257.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,215,695 shares of the exchange traded fund’s stock valued at $265,342,000 after buying an additional 4,474,583 shares during the period. Factory Mutual Insurance Co. grew its position in shares of Utilities Select Sector SPDR Fund by 85.4% during the 4th quarter. Factory Mutual Insurance Co. now owns 3,823,850 shares of the exchange traded fund’s stock valued at $163,240,000 after buying an additional 1,761,600 shares during the last quarter. Finally, Truist Financial Corp raised its stake in Utilities Select Sector SPDR Fund by 93.4% during the fourth quarter. Truist Financial Corp now owns 3,651,926 shares of the exchange traded fund’s stock worth $155,901,000 after acquiring an additional 1,763,461 shares during the period. Institutional investors and hedge funds own 90.06% of the company’s stock.

Utilities Select Sector SPDR Fund Price Performance

XLU traded up $0.74 during trading hours on Tuesday, reaching $44.22. 31,532,731 shares of the stock traded hands, compared to its average volume of 26,104,232. Utilities Select Sector SPDR Fund has a fifty-two week low of $35.51 and a fifty-two week high of $46.88. The company has a market cap of $22.69 billion, a price-to-earnings ratio of 20.74 and a beta of 0.59. The firm’s fifty day simple moving average is $42.98 and its two-hundred day simple moving average is $43.46.

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.