Forward Management LLC lowered its stake in Materials Select Sector SPDR (NYSEARCA:XLB) by 94.5% during the second quarter, Holdings Channel reports. The institutional investor owned 4,415 shares of the exchange traded fund’s stock after selling 75,257 shares during the period. Forward Management LLC’s holdings in Materials Select Sector SPDR were worth $238,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Sei Investments Co. raised its position in shares of Materials Select Sector SPDR by 181.6% in the second quarter. Sei Investments Co. now owns 2,320 shares of the exchange traded fund’s stock worth $125,000 after buying an additional 1,496 shares in the last quarter. Endurance Wealth Management Inc. raised its position in shares of Materials Select Sector SPDR by 7.8% in the second quarter. Endurance Wealth Management Inc. now owns 2,480 shares of the exchange traded fund’s stock worth $133,000 after buying an additional 180 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Materials Select Sector SPDR by 16.0% in the second quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the exchange traded fund’s stock worth $156,000 after buying an additional 400 shares in the last quarter. MCF Advisors LLC raised its position in shares of Materials Select Sector SPDR by 0.5% in the second quarter. MCF Advisors LLC now owns 3,360 shares of the exchange traded fund’s stock worth $181,000 after buying an additional 16 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. raised its position in shares of Materials Select Sector SPDR by 2.6% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 3,980 shares of the exchange traded fund’s stock worth $214,000 after buying an additional 100 shares in the last quarter.

Materials Select Sector SPDR (NYSEARCA XLB) opened at 53.48 on Friday. Materials Select Sector SPDR has a 12 month low of $45.56 and a 12 month high of $55.92. The company has a 50-day moving average of $54.57 and a 200-day moving average of $53.16.

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About Materials Select Sector SPDR

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.

Want to see what other hedge funds are holding XLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Materials Select Sector SPDR (NYSEARCA:XLB).

Institutional Ownership by Quarter for Materials Select Sector SPDR (NYSEARCA:XLB)

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