Financial Select Sector SPDR Fund (NYSEARCA:XLF) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Financial Select Sector SPDR Fund (NYSEARCA:XLF) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $47.81 and traded as high as $51.50. Financial Select Sector SPDR Fund shares last traded at $50.75, with a volume of 51,762,187 shares changing hands.

Financial Select Sector SPDR Fund Trading Down 1.2 %

The firm’s fifty day simple moving average is $49.98 and its 200 day simple moving average is $47.86. The company has a market cap of $47.31 billion, a price-to-earnings ratio of 18.32 and a beta of 0.83.

Hedge Funds Weigh In On Financial Select Sector SPDR Fund

Several hedge funds have recently added to or reduced their stakes in XLF. Envestnet Asset Management Inc. increased its position in shares of Financial Select Sector SPDR Fund by 30.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 22,207,028 shares of the exchange traded fund’s stock worth $1,073,266,000 after purchasing an additional 5,143,166 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Financial Select Sector SPDR Fund during the 4th quarter worth approximately $773,900,000. Clal Insurance Enterprises Holdings Ltd grew its stake in Financial Select Sector SPDR Fund by 45.3% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 12,077,000 shares of the exchange traded fund’s stock worth $583,681,000 after buying an additional 3,766,000 shares during the last quarter. Ameriprise Financial Inc. increased its position in Financial Select Sector SPDR Fund by 2.4% during the fourth quarter. Ameriprise Financial Inc. now owns 10,330,247 shares of the exchange traded fund’s stock worth $499,672,000 after buying an additional 244,456 shares during the period. Finally, Truist Financial Corp lifted its stake in Financial Select Sector SPDR Fund by 25.6% in the fourth quarter. Truist Financial Corp now owns 10,021,492 shares of the exchange traded fund’s stock valued at $484,339,000 after buying an additional 2,040,919 shares during the last quarter.

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.