Materials Select Sector SPDR Fund (NYSEARCA:XLB) Reaches New 52-Week High – What’s Next?

Materials Select Sector SPDR Fund (NYSEARCA:XLB)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $49.38 and last traded at $49.23, with a volume of 12511718 shares. The stock had previously closed at $48.19.

Materials Select Sector SPDR Fund Trading Up 2.2%

The business’s fifty day moving average price is $45.38 and its 200-day moving average price is $45.00. The company has a market capitalization of $5.91 billion, a P/E ratio of 24.55 and a beta of 1.03.

Hedge Funds Weigh In On Materials Select Sector SPDR Fund

Institutional investors have recently modified their holdings of the company. Silicon Valley Capital Partners bought a new stake in Materials Select Sector SPDR Fund in the 2nd quarter worth approximately $25,000. First Command Advisory Services Inc. raised its stake in shares of Materials Select Sector SPDR Fund by 488.2% during the second quarter. First Command Advisory Services Inc. now owns 300 shares of the exchange traded fund’s stock worth $26,000 after acquiring an additional 249 shares in the last quarter. Thompson Investment Management Inc. lifted its holdings in shares of Materials Select Sector SPDR Fund by 100.0% in the 4th quarter. Thompson Investment Management Inc. now owns 600 shares of the exchange traded fund’s stock worth $27,000 after acquiring an additional 300 shares during the last quarter. Register Financial Advisors LLC boosted its stake in shares of Materials Select Sector SPDR Fund by 58.9% in the 4th quarter. Register Financial Advisors LLC now owns 588 shares of the exchange traded fund’s stock valued at $27,000 after purchasing an additional 218 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Materials Select Sector SPDR Fund by 514.5% during the 2nd quarter. Blue Trust Inc. now owns 338 shares of the exchange traded fund’s stock valued at $30,000 after purchasing an additional 283 shares during the last quarter. 75.78% of the stock is currently owned by institutional investors.

About Materials Select Sector SPDR Fund

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