Financial Select Sector SPDR Fund (NYSEARCA:XLF) Sets New 12-Month High – Time to Buy?

Financial Select Sector SPDR Fund (NYSEARCA:XLF) shares reached a new 52-week high on Thursday . The company traded as high as $52.08 and last traded at $52.05, with a volume of 10499754 shares trading hands. The stock had previously closed at $51.68.

Financial Select Sector SPDR Fund Trading Down 0.6 %

The company has a market capitalization of $48.31 billion, a price-to-earnings ratio of 18.32 and a beta of 0.83. The stock has a 50-day simple moving average of $49.68 and a 200-day simple moving average of $47.21.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in XLF. Sequoia Financial Advisors LLC grew its position in shares of Financial Select Sector SPDR Fund by 288.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 354,428 shares of the exchange traded fund’s stock valued at $17,130,000 after buying an additional 263,195 shares during the last quarter. Summit X LLC grew its holdings in shares of Financial Select Sector SPDR Fund by 16.0% during the fourth quarter. Summit X LLC now owns 8,632 shares of the exchange traded fund’s stock valued at $417,000 after purchasing an additional 1,193 shares during the last quarter. Moors & Cabot Inc. raised its position in shares of Financial Select Sector SPDR Fund by 17.3% during the 4th quarter. Moors & Cabot Inc. now owns 40,007 shares of the exchange traded fund’s stock worth $1,934,000 after purchasing an additional 5,911 shares during the period. AGF Management Ltd. lifted its holdings in shares of Financial Select Sector SPDR Fund by 4.2% in the 4th quarter. AGF Management Ltd. now owns 3,156,574 shares of the exchange traded fund’s stock worth $152,557,000 after purchasing an additional 126,844 shares during the last quarter. Finally, GC Wealth Management RIA LLC acquired a new position in Financial Select Sector SPDR Fund during the 4th quarter valued at approximately $203,000.

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.