Financial Select Sector SPDR Fund (NYSEARCA:XLF) Shares Pass Above 200 Day Moving Average – Here’s Why

Financial Select Sector SPDR Fund (NYSEARCA:XLF) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $53.35 and traded as high as $54.11. Financial Select Sector SPDR Fund shares last traded at $53.20, with a volume of 57,009,310 shares trading hands.

Financial Select Sector SPDR Fund Stock Performance

The company has a market cap of $53.22 billion, a P/E ratio of 18.25 and a beta of 0.99. The firm’s fifty day moving average is $54.07 and its two-hundred day moving average is $53.35.

Institutional Trading of Financial Select Sector SPDR Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in Financial Select Sector SPDR Fund by 16.4% in the third quarter. JPMorgan Chase & Co. now owns 133,084,547 shares of the exchange traded fund’s stock worth $7,169,265,000 after acquiring an additional 18,724,516 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of Financial Select Sector SPDR Fund by 1,130.6% in the 3rd quarter. Focus Partners Wealth now owns 10,987,886 shares of the exchange traded fund’s stock valued at $591,917,000 after purchasing an additional 10,095,014 shares during the last quarter. PGIM Custom Harvest LLC purchased a new position in shares of Financial Select Sector SPDR Fund in the 3rd quarter worth approximately $542,917,000. Two Sigma Investments LP increased its position in shares of Financial Select Sector SPDR Fund by 478.6% during the 3rd quarter. Two Sigma Investments LP now owns 10,814,100 shares of the exchange traded fund’s stock valued at $582,556,000 after purchasing an additional 8,945,030 shares during the last quarter. Finally, Laurel Wealth Advisors LLC increased its position in shares of Financial Select Sector SPDR Fund by 5,614.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,635,354 shares of the exchange traded fund’s stock valued at $295,123,000 after purchasing an additional 5,536,732 shares during the last quarter. Institutional investors own 72.51% of the company’s stock.

Financial Select Sector SPDR Fund Company Profile

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.