Materials Select Sector SPDR Fund (NYSEARCA:XLB) Reaches New 1-Year High – Here’s Why

Materials Select Sector SPDR Fund (NYSEARCA:XLB) shares hit a new 52-week high during trading on Monday . The company traded as high as $54.19 and last traded at $53.9550, with a volume of 3772893 shares traded. The stock had previously closed at $53.54.

Materials Select Sector SPDR Fund Stock Down 0.1%

The firm’s 50-day moving average price is $51.59 and its 200 day moving average price is $51.28. The firm has a market cap of $8.76 billion, a P/E ratio of 24.55 and a beta of 0.92.

Institutional Investors Weigh In On Materials Select Sector SPDR Fund

A number of hedge funds have recently made changes to their positions in XLB. Morgan Stanley increased its stake in Materials Select Sector SPDR Fund by 112.6% during the 4th quarter. Morgan Stanley now owns 7,499,014 shares of the exchange traded fund’s stock valued at $340,080,000 after buying an additional 3,972,016 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Materials Select Sector SPDR Fund by 99.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,210,960 shares of the exchange traded fund’s stock valued at $236,317,000 after acquiring an additional 2,601,880 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Materials Select Sector SPDR Fund by 211.3% during the first 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. Main Management ETF Advisors LLC bought a new stake in Materials Select Sector SPDR Fund during the fourth quarter worth approximately $72,742,000. Finally, Wells Fargo & Company MN lifted its position in Materials Select Sector SPDR Fund by 97.4% in the fourth quarter. Wells Fargo & Company MN now owns 2,407,870 shares of the exchange traded fund’s stock worth $109,197,000 after purchasing an additional 1,188,168 shares during the period. Institutional investors 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