Health Care Select Sector SPDR Fund (NYSEARCA:XLV) Sets New 12-Month High – Time to Buy?

Health Care Select Sector SPDR Fund (NYSEARCA:XLV)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $165.61 and last traded at $164.44, with a volume of 12123762 shares changing hands. The stock had previously closed at $161.96.

Health Care Select Sector SPDR Fund Stock Up 1.5%

The firm has a market cap of $42.29 billion, a price-to-earnings ratio of 21.15 and a beta of 0.56. The company has a 50 day moving average of $150.85 and a 200 day moving average of $152.28.

Hedge Funds Weigh In On Health Care Select Sector SPDR Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Ausdal Financial Partners Inc. grew its holdings in shares of Health Care Select Sector SPDR Fund by 182.6% during the third quarter. Ausdal Financial Partners Inc. now owns 22,445 shares of the exchange traded fund’s stock valued at $3,124,000 after purchasing an additional 14,502 shares during the last quarter. Clear Street Group Inc. acquired a new position in Health Care Select Sector SPDR Fund during the 3rd quarter valued at approximately $223,000. Perbak Capital Partners LLP boosted its position in Health Care Select Sector SPDR Fund by 48.2% during the 3rd quarter. Perbak Capital Partners LLP now owns 173,368 shares of the exchange traded fund’s stock valued at $24,128,000 after purchasing an additional 56,369 shares during the period. Concentric Capital Strategies LP grew its stake in Health Care Select Sector SPDR Fund by 630.8% during the 3rd quarter. Concentric Capital Strategies LP now owns 136,499 shares of the exchange traded fund’s stock worth $18,997,000 after buying an additional 117,822 shares during the last quarter. Finally, Compass Wealth Management LLC GA increased its position in Health Care Select Sector SPDR Fund by 8.7% in the third quarter. Compass Wealth Management LLC GA now owns 60,202 shares of the exchange traded fund’s stock worth $8,378,000 after buying an additional 4,805 shares during the period.

About Health Care Select Sector SPDR Fund

Health Care Select Sector SPDR Fund (the Fund) seeks to closely match the returns and characteristics of the S&P Health Care Select Sector Index (the Index). The companies included in the Index are selected on the basis of general industry classification from a universe of companies defined by the Standard & Poor’s 500 Composite Stock Index (S&P 500). The Health Care Select Sector Index includes companies from the industries, such as pharmaceuticals, healthcare providers and services, healthcare equipment and supplies, biotechnology, life sciences tools and services, and healthcare technology.