Financial Select Sector SPDR Fund (NYSEARCA:XLF) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Financial Select Sector SPDR Fund (NYSEARCA:XLF) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $53.44 and traded as high as $54.35. Financial Select Sector SPDR Fund shares last traded at $54.26, with a volume of 53,052,894 shares trading hands.

Financial Select Sector SPDR Fund Price Performance

The firm has a market capitalization of $56.13 billion, a P/E ratio of 18.25 and a beta of 0.99. The stock’s fifty day simple moving average is $54.38 and its 200 day simple moving average is $53.44.

Hedge Funds Weigh In On Financial Select Sector SPDR Fund

Institutional investors and hedge funds have recently bought and sold shares of the company. Eastern Bank grew its position in Financial Select Sector SPDR Fund by 17.3% in the second quarter. Eastern Bank now owns 5,876 shares of the exchange traded fund’s stock worth $308,000 after acquiring an additional 865 shares during the period. JFS Wealth Advisors LLC increased its position in shares of Financial Select Sector SPDR Fund by 3.5% during the 2nd quarter. JFS Wealth Advisors LLC now owns 75,252 shares of the exchange traded fund’s stock worth $3,941,000 after purchasing an additional 2,567 shares during the last quarter. Greenwood Gearhart Inc. raised its holdings in Financial Select Sector SPDR Fund by 4.7% in the 2nd quarter. Greenwood Gearhart Inc. now owns 660,861 shares of the exchange traded fund’s stock valued at $34,609,000 after buying an additional 29,782 shares during the period. Blue Trust Inc. lifted its position in Financial Select Sector SPDR Fund by 20.9% in the second quarter. Blue Trust Inc. now owns 19,647 shares of the exchange traded fund’s stock valued at $1,029,000 after buying an additional 3,395 shares during the last quarter. Finally, Williams & Novak LLC acquired a new position in Financial Select Sector SPDR Fund in the second quarter valued at about $200,000. 72.51% of the stock is owned by hedge funds and other institutional investors.

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.