Financial Select Sector SPDR Fund (NYSEARCA:XLF) Hits New 1-Year High – Still a Buy?

Shares of Financial Select Sector SPDR Fund (NYSEARCA:XLF) hit a new 52-week high during trading 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 Price Performance

The company has a market cap of $48.42 billion, a P/E ratio of 18.32 and a beta of 0.83. The stock has a fifty day moving average price of $49.65 and a two-hundred day moving average price of $47.11.

Institutional Investors Weigh In On Financial Select Sector SPDR Fund

A number of institutional investors have recently added to or reduced their stakes in XLF. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Financial Select Sector SPDR Fund by 45.3% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 12,077,000 shares of the exchange traded fund’s stock valued at $583,681,000 after acquiring an additional 3,766,000 shares during the last quarter. Raymond James & Associates increased its position in Financial Select Sector SPDR Fund by 29.7% in the 3rd quarter. Raymond James & Associates now owns 10,603,914 shares of the exchange traded fund’s stock worth $480,569,000 after buying an additional 2,430,124 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Financial Select Sector SPDR Fund by 6.6% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,328,231 shares of the exchange traded fund’s stock worth $468,075,000 after buying an additional 640,070 shares during the last quarter. Truist Financial Corp boosted its position in shares of Financial Select Sector SPDR Fund by 25.6% in the fourth quarter. Truist Financial Corp now owns 10,021,492 shares of the exchange traded fund’s stock valued at $484,339,000 after acquiring an additional 2,040,919 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of Financial Select Sector SPDR Fund by 26.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 9,641,304 shares of the exchange traded fund’s stock worth $465,964,000 after acquiring an additional 2,016,412 shares during the last quarter.

About Financial Select Sector SPDR Fund

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.