Consumer Staples Select Sector SPDR Fund (NYSEARCA:XLP) Stock Crosses Above 50-Day Moving Average – Here’s Why

Consumer Staples Select Sector SPDR Fund (NYSEARCA:XLP) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $84.12 and traded as high as $85.30. Consumer Staples Select Sector SPDR Fund shares last traded at $84.39, with a volume of 10,893,337 shares.

Consumer Staples Select Sector SPDR Fund Price Performance

The firm’s 50-day moving average price is $84.12 and its 200 day moving average price is $83.50. The firm has a market capitalization of $14.14 billion, a price-to-earnings ratio of 20.82 and a beta of 0.47.

Institutional Investors Weigh In On Consumer Staples Select Sector SPDR Fund

A number of large investors have recently bought and sold shares of XLP. Bank of America Corp DE lifted its position in shares of Consumer Staples Select Sector SPDR Fund by 5.4% in the first quarter. Bank of America Corp DE now owns 24,702,456 shares of the exchange traded fund’s stock valued at $2,025,107,000 after acquiring an additional 1,275,550 shares in the last quarter. Two Sigma Investments LP increased its position in Consumer Staples Select Sector SPDR Fund by 242.5% during the 3rd quarter. Two Sigma Investments LP now owns 6,247,272 shares of the exchange traded fund’s stock worth $489,599,000 after purchasing an additional 4,423,172 shares in the last quarter. Wells Fargo & Company MN increased its position in Consumer Staples Select Sector SPDR Fund by 12.2% during the 4th quarter. Wells Fargo & Company MN now owns 5,164,547 shares of the exchange traded fund’s stock worth $401,182,000 after purchasing an additional 563,063 shares in the last quarter. Raymond James Financial Inc. raised its stake in Consumer Staples Select Sector SPDR Fund by 8.1% in the 4th quarter. Raymond James Financial Inc. now owns 4,994,420 shares of the exchange traded fund’s stock valued at $387,967,000 after purchasing an additional 372,614 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Consumer Staples Select Sector SPDR Fund by 35.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,926,046 shares of the exchange traded fund’s stock valued at $317,875,000 after purchasing an additional 1,025,936 shares during the last quarter.

About Consumer Staples Select Sector SPDR Fund

Consumer Staples Select Sector SPDR Fund (the Fund) seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of publicly traded equity securities of companies in The Consumer Staples Select Sector Index (the Index).The Fund typically invests in substantially all of the securities represented in the Index in approximately the same proportions as the Index. Under normal market conditions, the Fund generally invests substantially all, but at least 95%, of its total assets in the securities consisting of the Index.