Financial Select Sector SPDR Fund (NYSEARCA:XLF) Shares Pass Above 200 Day Moving Average – Should You Sell?

Financial Select Sector SPDR Fund (NYSEARCA:XLF) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $46.12 and traded as high as $47.68. Financial Select Sector SPDR Fund shares last traded at $47.66, with a volume of 35,992,947 shares changing hands.

Financial Select Sector SPDR Fund Price Performance

The company has a fifty day moving average price of $49.35 and a 200 day moving average price of $46.12. The company has a market cap of $44.43 billion, a PE ratio of 18.32 and a beta of 0.83.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XLF. Canada Pension Plan Investment Board raised its stake in shares of Financial Select Sector SPDR Fund by 266.7% during the second quarter. Canada Pension Plan Investment Board now owns 11,000,000 shares of the exchange traded fund’s stock worth $452,210,000 after acquiring an additional 8,000,000 shares in the last quarter. Public Sector Pension Investment Board bought a new position in shares of Financial Select Sector SPDR Fund during the 2nd quarter valued at $102,775,000. Raymond James & Associates raised its position in Financial Select Sector SPDR Fund by 29.7% in the 3rd quarter. Raymond James & Associates now owns 10,603,914 shares of the exchange traded fund’s stock worth $480,569,000 after purchasing an additional 2,430,124 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Financial Select Sector SPDR Fund by 241,218,500.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,412,186 shares of the exchange traded fund’s stock worth $108,930,000 after purchasing an additional 2,412,185 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Financial Select Sector SPDR Fund by 44.0% during the third quarter. Janney Montgomery Scott LLC now owns 7,624,892 shares of the exchange traded fund’s stock valued at $345,560,000 after buying an additional 2,328,824 shares during the period.

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.