Utilities Select Sector SPDR Fund (NYSEARCA:XLU) Share Price Passes Above Fifty Day Moving Average – Here’s What Happened

Utilities Select Sector SPDR Fund (NYSEARCA:XLU)’s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $45.67 and traded as high as $46.50. Utilities Select Sector SPDR Fund shares last traded at $46.17, with a volume of 12,937,073 shares.

Utilities Select Sector SPDR Fund Price Performance

The stock has a market capitalization of $24.40 billion, a P/E ratio of 20.74 and a beta of 0.62. The firm has a 50 day moving average of $45.67 and a 200-day moving average of $44.51.

Hedge Funds Weigh In On Utilities Select Sector SPDR Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Davis Capital Management bought a new position in Utilities Select Sector SPDR Fund during the third quarter valued at about $26,000. SJS Investment Consulting Inc. increased its stake in Utilities Select Sector SPDR Fund by 171.3% during the third quarter. SJS Investment Consulting Inc. now owns 312 shares of the exchange traded fund’s stock valued at $27,000 after acquiring an additional 197 shares during the period. Root Financial Partners LLC bought a new position in Utilities Select Sector SPDR Fund during the third quarter valued at about $30,000. FNY Investment Advisers LLC bought a new position in Utilities Select Sector SPDR Fund during the third quarter valued at about $34,000. Finally, Evolution Wealth Management Inc. bought a new position in Utilities Select Sector SPDR Fund during the second quarter valued at about $33,000. 90.06% of the stock is currently owned by 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.