Utilities Select Sector SPDR Fund (NYSEARCA:XLU) Sees Strong Trading Volume – Still a Buy?

Utilities Select Sector SPDR Fund (NYSEARCA:XLU) shares saw unusually-strong trading volume on Friday. Approximately 27,220,156 shares traded hands during mid-day trading, an increase of 15% from the previous session’s volume of 23,706,182 shares. The stock last traded at $40.0820 and had previously closed at $39.68.

Utilities Select Sector SPDR Fund Stock Up 0.4%

The firm’s 50 day simple moving average is $42.75 and its 200-day simple moving average is $44.45. The company has a market capitalization of $21.35 billion, a PE ratio of 20.74 and a beta of 0.57.

Hedge Funds Weigh In On Utilities Select Sector SPDR Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Crescent Grove Advisors LLC lifted its position in Utilities Select Sector SPDR Fund by 21.7% during the 4th quarter. Crescent Grove Advisors LLC now owns 5,653 shares of the exchange traded fund’s stock worth $241,000 after buying an additional 1,007 shares in the last quarter. Cibc World Market Inc. grew its holdings in shares of Utilities Select Sector SPDR Fund by 39.9% in the 4th quarter. Cibc World Market Inc. now owns 2,728,566 shares of the exchange traded fund’s stock valued at $116,482,000 after acquiring an additional 778,825 shares in the last quarter. Evolution Wealth Management Inc. grew its position in shares of Utilities Select Sector SPDR Fund by 104.4% in the 4th quarter. Evolution Wealth Management Inc. now owns 836 shares of the exchange traded fund’s stock valued at $36,000 after acquiring an additional 427 shares during the period. Transatlantique Private Wealth LLC increased its holdings in shares of Utilities Select Sector SPDR Fund by 100.0% during the 4th quarter. Transatlantique Private Wealth LLC now owns 6,696 shares of the exchange traded fund’s stock worth $286,000 after acquiring an additional 3,348 shares during the last quarter. Finally, REAP Financial Group LLC bought a new stake in shares of Utilities Select Sector SPDR Fund during the 4th quarter worth about $86,000. Hedge funds and other institutional investors own 90.06% of the company’s stock.

About Utilities Select Sector SPDR Fund

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.