Utilities Select Sector SPDR Fund (NYSEARCA:XLU) Stock Jumps 0.2% – Time to Buy?

Utilities Select Sector SPDR Fund (NYSEARCA:XLU) rose 0.2% during mid-day trading on Wednesday. The stock traded as high as $43.89 and last traded at $43.82. 16,023,580 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 24,524,641 shares. The stock had previously closed at $43.73.

Utilities Select Sector SPDR Fund Stock Up 0.2%

The company’s 50 day simple moving average is $41.85 and its 200-day simple moving average is $44.29. The firm has a market cap of $24.19 billion, a P/E ratio of 20.74 and a beta of 0.53.

Institutional Investors Weigh In On Utilities Select Sector SPDR Fund

Several hedge funds and other institutional investors have recently modified their holdings of the business. Fifth Third Bancorp grew its position in Utilities Select Sector SPDR Fund by 193.8% in the 1st quarter. Fifth Third Bancorp now owns 307,612 shares of the exchange traded fund’s stock valued at $14,116,000 after acquiring an additional 202,914 shares during the last quarter. Sigma Planning Corp lifted its position in shares of Utilities Select Sector SPDR Fund by 9.0% during the first quarter. Sigma Planning Corp now owns 188,952 shares of the exchange traded fund’s stock worth $8,671,000 after purchasing an additional 15,523 shares during the last quarter. AMG National Trust Bank lifted its position in shares of Utilities Select Sector SPDR Fund by 34.2% during the first quarter. AMG National Trust Bank now owns 86,955 shares of the exchange traded fund’s stock worth $3,990,000 after purchasing an additional 22,151 shares during the last quarter. 1ST Source Bank lifted its position in shares of Utilities Select Sector SPDR Fund by 40.7% during the first quarter. 1ST Source Bank now owns 50,750 shares of the exchange traded fund’s stock worth $2,329,000 after purchasing an additional 14,676 shares during the last quarter. Finally, J. Safra Sarasin Holding AG boosted its stake in shares of Utilities Select Sector SPDR Fund by 5.1% during the first quarter. J. Safra Sarasin Holding AG now owns 36,759 shares of the exchange traded fund’s stock valued at $1,687,000 after purchasing an additional 1,779 shares during the period. 90.06% of the stock is currently owned by hedge funds and other institutional investors.

Utilities Select Sector SPDR Fund Company Profile

Select Sector Utilities Select Sector SPDR Fund (the Fund), formerly Utilities Select Sector SPDR Fund, seeks to provide investment results that correspond to the price and yield performance of the Utilities Select Sector of the S&P 500 Index (the Index). The Index includes companies from industries, such as electric utilities, multi-utilities, independent power producers and energy traders, and gas utilities. The Fund utilizes a passive or indexing investment approach to attempt to approximate the investment performance of the Index.