Materials Select Sector SPDR Fund (NYSEARCA:XLB) Reaches New 52-Week High – Should You Buy?

Materials Select Sector SPDR Fund (NYSEARCA:XLB)’s stock price reached a new 52-week high on Monday . The company traded as high as $52.04 and last traded at $52.0750, with a volume of 7832455 shares changing hands. The stock had previously closed at $51.51.

Materials Select Sector SPDR Fund Stock Performance

The company has a market cap of $6.48 billion, a PE ratio of 24.55 and a beta of 1.03. The stock’s 50-day simple moving average is $47.11 and its 200 day simple moving average is $45.43.

Institutional Investors Weigh In On Materials Select Sector SPDR Fund

A number of institutional investors have recently added to or reduced their stakes in XLB. IPG Investment Advisors LLC purchased a new position in shares of Materials Select Sector SPDR Fund during the 4th quarter worth approximately $1,728,000. Arista Wealth Management LLC raised its position in Materials Select Sector SPDR Fund by 100.0% in the fourth quarter. Arista Wealth Management LLC now owns 18,922 shares of the exchange traded fund’s stock worth $858,000 after acquiring an additional 9,461 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in Materials Select Sector SPDR Fund by 114.6% in the fourth quarter. Kingsview Wealth Management LLC now owns 703,326 shares of the exchange traded fund’s stock valued at $31,896,000 after acquiring an additional 375,607 shares during the period. Texas Capital Bank Wealth Management Services Inc lifted its holdings in Materials Select Sector SPDR Fund by 100.0% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 6,350 shares of the exchange traded fund’s stock valued at $288,000 after acquiring an additional 3,175 shares during the period. Finally, Key Financial Inc boosted its position in shares of Materials Select Sector SPDR Fund by 100.0% during the 4th quarter. Key Financial Inc now owns 1,800 shares of the exchange traded fund’s stock worth $82,000 after purchasing an additional 900 shares in the last quarter. 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