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

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

Materials Select Sector SPDR Fund Stock Up 2.2%

The company has a fifty day moving average price of $45.38 and a 200 day moving average price of $45.00. The stock has a market cap of $5.91 billion, a PE ratio of 24.55 and a beta of 1.03.

Institutional Trading of Materials Select Sector SPDR Fund

Several hedge funds and other institutional investors have recently bought and sold shares of XLB. JPMorgan Chase & Co. grew its holdings in shares of Materials Select Sector SPDR Fund by 102.4% in the second quarter. JPMorgan Chase & Co. now owns 156,400 shares of the exchange traded fund’s stock worth $13,734,000 after purchasing an additional 6,721,929 shares during the last quarter. SG Americas Securities LLC grew its holdings in Materials Select Sector SPDR Fund by 107.0% in the 2nd quarter. SG Americas Securities LLC now owns 76,261 shares of the exchange traded fund’s stock worth $6,696,000 after acquiring an additional 1,167,514 shares during the last quarter. Laurel Wealth Advisors LLC increased its position in shares of Materials Select Sector SPDR Fund by 8,680.7% in the second quarter. Laurel Wealth Advisors LLC now owns 740,303 shares of the exchange traded fund’s stock valued at $65,006,000 after acquiring an additional 731,872 shares during the period. Menora Mivtachim Holdings LTD. increased its position in shares of Materials Select Sector SPDR Fund by 69.3% in the third quarter. Menora Mivtachim Holdings LTD. now owns 1,636,350 shares of the exchange traded fund’s stock valued at $146,650,000 after acquiring an additional 670,000 shares during the period. Finally, Bank of Nova Scotia bought a new position in shares of Materials Select Sector SPDR Fund during the third quarter valued at about $44,890,000. 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