Shares of Materials Select Sector SPDR Fund (NYSEARCA:XLB – Get Free Report) reached a new 52-week high on Thursday. The company traded as high as $54.63 and last traded at $53.65, with a volume of 1,631,667 shares trading hands. The stock had previously closed at $53.90.
Materials Select Sector SPDR Fund Stock Down 1.5%
The company has a fifty day simple moving average of $50.98 and a 200-day simple moving average of $51.12. The firm has a market cap of $8.39 billion, a P/E ratio of 24.55 and a beta of 0.90.
Institutional Investors Weigh In On Materials Select Sector SPDR Fund
Hedge funds and other institutional investors have recently made changes to their positions in the business. Main Street Group LTD bought a new stake in shares of Materials Select Sector SPDR Fund in the 1st quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Materials Select Sector SPDR Fund in the first quarter worth approximately $26,000. Provenance Wealth Advisors LLC acquired a new stake in shares of Materials Select Sector SPDR Fund during the 3rd quarter valued at $31,000. International Assets Investment Management LLC grew its stake in Materials Select Sector SPDR Fund by 46.6% in the first quarter. International Assets Investment Management LLC now owns 648 shares of the exchange traded fund’s stock valued at $33,000 after purchasing an additional 206 shares in the last quarter. Finally, Pittenger & Anderson Inc. acquired a new position in Materials Select Sector SPDR Fund in the first quarter worth approximately $37,000. Institutional investors and hedge funds own 75.78% of the company’s stock.
Materials Select Sector SPDR Fund Company Profile
Materials Select Sector SPDR Fund (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of the Materials Select Sector Index (the Index). The Index includes companies involved in such industries as chemicals; metals and mining; paper and forest products; containers and packaging, and construction materials. The Fund’s investment advisor is SSgA Funds Management, Inc
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