Utilities Select Sector SPDR Fund (NYSEARCA:XLU) Reaches New 52-Week Low – Should You Sell?

Utilities Select Sector SPDR Fund (NYSEARCA:XLU)’s share price reached a new 52-week low on Tuesday . The company traded as low as $41.51 and last traded at $41.6470, with a volume of 1754382 shares traded. The stock had previously closed at $41.82.

Utilities Select Sector SPDR Fund Stock Down 0.7%

The firm has a market cap of $21.47 billion, a P/E ratio of 20.74 and a beta of 0.57. The company’s 50 day simple moving average is $44.10 and its 200-day simple moving average is $45.06.

Institutional Investors Weigh In On Utilities Select Sector SPDR Fund

Institutional investors and hedge funds have recently modified their holdings of the business. New Millennium Group LLC lifted its position in shares of Utilities Select Sector SPDR Fund by 96.4% during the fourth quarter. New Millennium Group LLC now owns 599 shares of the exchange traded fund’s stock worth $26,000 after purchasing an additional 294 shares during the last quarter. Smithfield Trust Co boosted its stake in shares of Utilities Select Sector SPDR Fund by 100.0% during the fourth quarter. Smithfield Trust Co now owns 600 shares of the exchange traded fund’s stock valued at $26,000 after purchasing an additional 300 shares during the period. Main Street Group LTD bought a new position in shares of Utilities Select Sector SPDR Fund in the first quarter worth about $32,000. Osbon Capital Management LLC bought a new position in shares of Utilities Select Sector SPDR Fund in the fourth quarter worth about $32,000. Finally, Rice Partnership LLC increased its stake in Utilities Select Sector SPDR Fund by 92.5% in the 1st quarter. Rice Partnership LLC now owns 770 shares of the exchange traded fund’s stock worth $35,000 after buying an additional 370 shares during the period. 90.06% of the stock is owned by institutional investors.

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.