Utilities Select Sector SPDR Fund (NYSEARCA:XLU) Hits New 1-Year High – Here’s What Happened

Utilities Select Sector SPDR Fund (NYSEARCA:XLU)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $47.08 and last traded at $46.7310, with a volume of 4256311 shares traded. The stock had previously closed at $46.50.

Utilities Select Sector SPDR Fund Trading Down 1.7%

The company has a 50 day simple moving average of $43.30 and a 200 day simple moving average of $43.61. The stock has a market capitalization of $23.40 billion, a PE ratio of 20.74 and a beta of 0.59.

Institutional Trading of Utilities Select Sector SPDR Fund

Institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley increased its holdings in Utilities Select Sector SPDR Fund by 92.6% during the 4th quarter. Morgan Stanley now owns 21,694,396 shares of the exchange traded fund’s stock valued at $926,134,000 after acquiring an additional 10,429,314 shares in the last quarter. LPL Financial LLC lifted its holdings in Utilities Select Sector SPDR Fund by 106.2% in the 4th quarter. LPL Financial LLC now owns 15,178,321 shares of the exchange traded fund’s stock valued at $647,962,000 after purchasing an additional 7,817,477 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Utilities Select Sector SPDR Fund by 126.3% during the fourth quarter. Wells Fargo & Company MN now owns 12,732,033 shares of the exchange traded fund’s stock worth $543,531,000 after buying an additional 7,106,976 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Utilities Select Sector SPDR Fund by 103.0% in the second quarter. JPMorgan Chase & Co. now owns 9,087,078 shares of the exchange traded fund’s stock valued at $742,051,000 after buying an additional 4,610,697 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Utilities Select Sector SPDR Fund by 410.1% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,052,676 shares of the exchange traded fund’s stock valued at $386,459,000 after buying an additional 7,277,976 shares during the period. Hedge funds and other institutional investors own 90.06% of the company’s stock.

About Utilities Select Sector SPDR Fund

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.