Materials Select Sector SPDR Fund (NYSEARCA:XLB) Sets New 52-Week High – Here’s What Happened

Materials Select Sector SPDR Fund (NYSEARCA:XLB)’s share price hit a new 52-week high during mid-day 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 Price Performance

The stock has a market capitalization of $8.78 billion, a P/E ratio of 24.55 and a beta of 0.92. The firm’s 50 day moving average price is $51.63 and its 200 day moving average price is $51.31.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of XLB. January Capital Advisors LLC bought a new stake in shares of Materials Select Sector SPDR Fund in the 2nd quarter worth approximately $599,000. Hyundai Investments Co. Ltd. raised its holdings in shares of Materials Select Sector SPDR Fund by 9.4% during the second quarter. Hyundai Investments Co. Ltd. now owns 11,181 shares of the exchange traded fund’s stock valued at $566,000 after acquiring an additional 963 shares in the last quarter. Ameritas Advisory Services LLC lifted its stake in Materials Select Sector SPDR Fund by 59.7% in the second quarter. Ameritas Advisory Services LLC now owns 13,631 shares of the exchange traded fund’s stock worth $693,000 after acquiring an additional 5,098 shares during the period. Straight Path Wealth Management purchased a new stake in Materials Select Sector SPDR Fund in the second quarter worth $245,000. Finally, Passaic Partners LLC bought a new stake in Materials Select Sector SPDR Fund in the second quarter valued at $19,176,000. 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