Materials Select Sector SPDR Fund (NYSEARCA:XLB – Get Free Report) shares reached a new 52-week high during trading on Thursday. The company traded as high as $54.63 and last traded at $53.65, with a volume of 1,631,667 shares. The stock had previously closed at $53.90.
Materials Select Sector SPDR Fund Trading Down 0.7%
The firm has a market capitalization of $8.38 billion, a PE ratio of 24.55 and a beta of 0.90. The company has a fifty day moving average price of $50.93 and a two-hundred day moving average price of $51.16.
Institutional Investors Weigh In On Materials Select Sector SPDR Fund
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its holdings in shares of Materials Select Sector SPDR Fund by 385.7% in the second quarter. Envestnet Asset Management Inc. now owns 5,388,001 shares of the exchange traded fund’s stock valued at $273,872,000 after buying an additional 4,278,731 shares during the last quarter. Royal Bank of Canada increased its position in Materials Select Sector SPDR Fund by 211.3% in the 1st quarter. Royal Bank of Canada now owns 2,442,259 shares of the exchange traded fund’s stock valued at $122,040,000 after acquiring an additional 1,657,671 shares during the period. Bellwether Advisors LLC purchased a new stake in Materials Select Sector SPDR Fund during the 1st quarter valued at approximately $34,107,000. Passaic Partners LLC purchased a new stake in Materials Select Sector SPDR Fund during the 2nd quarter valued at approximately $19,176,000. Finally, Royal Fund Management LLC acquired a new stake in Materials Select Sector SPDR Fund during the 1st quarter worth approximately $12,125,000. Hedge funds and other institutional investors own 75.78% of the company’s stock.
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
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