19 Nov

XLU: Reviewing Institutional Activity

WRITTEN BY Vineet Kulkarni

Institutional ownership in XLU

Let’s take a look at the Utilities Select Sector SPDR ETF’s (XLU) institutional activity during the third quarter. Goldman Sachs, the biggest institutional investor in XLU, sold 16.9 million units of XLU during the third quarter. According to the recent 13F filing, Goldman Sachs held 10.8% of XLU’s total outstanding units as of September 30. At the end of the second quarter, Goldman Sachs held 22% of XLU’s total outstanding shares with more than 32.1 million shares.

XLU: Reviewing Institutional Activity

UBS Financial Services, the second-largest institutional investor in XLU, bought more than 1.5 million units of XLU during the third quarter. UBS Financial Services held an ~10.1% stake in XLU as of September 30.

Among big additions during the quarter, Morgan Stanley added net 8.9 million units of XLU and raised its total stake to 8.4% as of September 30. J.P. Morgan also increased its stake in XLU and bought net 2.4 million units during the third quarter.

Utilities (XLU) at large have returned (including dividends) 7%, while broader markets have returned 4% in 2018.

To learn about the institutional activity in top utility stocks, read How Institutional Investors Played Top Utility Stocks in Q3 2018.

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