Materials Select Sector SPDR Fund (NYSEARCA:XLB) Sees Significant Growth in Short Interest

Materials Select Sector SPDR Fund (NYSEARCA:XLB) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totaling 23,098,271 shares, an increase of 32.9% from the December 31st total of 17,376,558 shares. Based on an average daily trading volume, of 15,945,364 shares, the days-to-cover ratio is presently 1.4 days. Approximately 19.6% of the shares of the stock are short sold. Approximately 19.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 15,945,364 shares, the days-to-cover ratio is presently 1.4 days.

Materials Select Sector SPDR Fund Stock Performance

NYSEARCA:XLB traded up $0.40 during trading hours on Monday, hitting $49.67. The company’s stock had a trading volume of 21,927,845 shares, compared to its average volume of 16,420,811. Materials Select Sector SPDR Fund has a 52-week low of $36.56 and a 52-week high of $50.62. The business’s 50-day moving average is $46.44 and its two-hundred day moving average is $45.25. The company has a market capitalization of $6.09 billion, a PE ratio of 24.55 and a beta of 1.03.

Institutional Investors Weigh In On Materials Select Sector SPDR Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Silicon Valley Capital Partners purchased a new position in Materials Select Sector SPDR Fund in the 2nd quarter valued at approximately $25,000. Turning Point Benefit Group Inc. acquired a new stake in Materials Select Sector SPDR Fund in the fourth quarter valued at $25,000. First Command Advisory Services Inc. increased its position in shares of Materials Select Sector SPDR Fund by 488.2% in the second quarter. First Command Advisory Services Inc. now owns 300 shares of the exchange traded fund’s stock valued at $26,000 after buying an additional 249 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Materials Select Sector SPDR Fund by 100.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 578 shares of the exchange traded fund’s stock worth $26,000 after buying an additional 289 shares during the last quarter. Finally, Thompson Investment Management Inc. boosted its position 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 buying an additional 300 shares in the last quarter. 75.78% of the stock is currently owned by institutional investors and hedge funds.

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