Financial Select Sector SPDR Fund (NYSEARCA:XLF) Shares Cross Above 200-Day Moving Average – Time to Sell?

Financial Select Sector SPDR Fund (NYSEARCA:XLF)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $52.57 and traded as high as $53.19. Financial Select Sector SPDR Fund shares last traded at $52.30, with a volume of 34,079,481 shares.

Financial Select Sector SPDR Fund Stock Performance

The company has a market cap of $51.54 billion, a PE ratio of 18.25 and a beta of 0.91. The company’s 50-day simple moving average is $50.65 and its 200 day simple moving average is $52.56.

Hedge Funds Weigh In On Financial Select Sector SPDR Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in Financial Select Sector SPDR Fund by 16.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 133,084,547 shares of the exchange traded fund’s stock valued at $7,169,265,000 after buying an additional 18,724,516 shares during the period. Bank of America Corp DE boosted its position in Financial Select Sector SPDR Fund by 22.9% in the 4th quarter. Bank of America Corp DE now owns 80,614,166 shares of the exchange traded fund’s stock valued at $4,415,238,000 after buying an additional 15,014,591 shares during the period. Envestnet Asset Management Inc. boosted its position in Financial Select Sector SPDR Fund by 20.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 22,039,582 shares of the exchange traded fund’s stock valued at $1,187,272,000 after buying an additional 3,697,754 shares during the period. Raymond James Financial Inc. boosted its position in Financial Select Sector SPDR Fund by 20.3% in the 4th quarter. Raymond James Financial Inc. now owns 16,288,590 shares of the exchange traded fund’s stock valued at $892,126,000 after buying an additional 2,753,084 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Financial Select Sector SPDR Fund by 23.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 14,244,098 shares of the exchange traded fund’s stock worth $767,375,000 after purchasing an additional 2,682,361 shares during the last quarter. Hedge funds and other institutional investors own 72.51% of the company’s stock.

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.