Utilities Select Sector SPDR Fund (NYSEARCA:XLU) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

Utilities Select Sector SPDR Fund (NYSEARCA:XLU) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $42.98 and traded as low as $42.55. Utilities Select Sector SPDR Fund shares last traded at $42.81, with a volume of 5,761,034 shares trading hands.

Utilities Select Sector SPDR Fund Trading Up 0.4%

The company has a market capitalization of $21.63 billion, a P/E ratio of 20.74 and a beta of 0.59. The firm’s 50 day moving average price is $44.17 and its two-hundred day moving average price is $42.98.

Institutional Investors Weigh In On Utilities Select Sector SPDR Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XLU. JPMorgan Chase & Co. grew its holdings in Utilities Select Sector SPDR Fund by 103.0% during the second quarter. JPMorgan Chase & Co. now owns 9,087,078 shares of the exchange traded fund’s stock worth $742,051,000 after purchasing an additional 4,610,697 shares during the period. Laurel Wealth Advisors LLC lifted its position in shares of Utilities Select Sector SPDR Fund by 8,026.1% in the second quarter. Laurel Wealth Advisors LLC now owns 2,329,180 shares of the exchange traded fund’s stock valued at $190,201,000 after buying an additional 2,300,517 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Utilities Select Sector SPDR Fund by 157.6% in the third quarter. Envestnet Asset Management Inc. now owns 3,511,968 shares of the exchange traded fund’s stock valued at $306,279,000 after buying an additional 2,148,792 shares during the last quarter. Raymond James Financial Inc. boosted its stake in shares of Utilities Select Sector SPDR Fund by 82.0% during the 3rd quarter. Raymond James Financial Inc. now owns 3,176,383 shares of the exchange traded fund’s stock worth $277,012,000 after acquiring an additional 1,431,115 shares during the period. Finally, Truist Financial Corp increased its holdings in shares of Utilities Select Sector SPDR Fund by 246.0% during the 3rd quarter. Truist Financial Corp now owns 1,888,465 shares of the exchange traded fund’s stock worth $164,693,000 after acquiring an additional 1,342,645 shares during the last quarter. 90.06% of the stock is currently owned by institutional investors and hedge funds.

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.