Materials Select Sector SPDR Fund (NYSEARCA:XLB) Sees Large Decrease in Short Interest

Materials Select Sector SPDR Fund (NYSEARCA:XLB) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 14,045,172 shares, a decline of 26.5% from the March 31st total of 19,117,831 shares. Based on an average daily volume of 11,922,208 shares, the short-interest ratio is currently 1.2 days. Approximately 9.5% of the shares of the company are sold short.

Materials Select Sector SPDR Fund Price Performance

Materials Select Sector SPDR Fund stock traded down $0.12 during trading hours on Friday, hitting $51.35. The stock had a trading volume of 9,346,274 shares, compared to its average volume of 16,174,439. Materials Select Sector SPDR Fund has a 1-year low of $41.46 and a 1-year high of $54.14. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 24.55 and a beta of 0.93. The stock’s fifty day moving average is $50.82 and its two-hundred day moving average is $47.92.

Hedge Funds Weigh In On Materials Select Sector SPDR Fund

Institutional investors have recently made changes to their positions in the business. Turning Point Benefit Group Inc. bought a new stake in shares of Materials Select Sector SPDR Fund in the 4th quarter worth about $25,000. TD Waterhouse Canada Inc. increased its holdings in Materials Select Sector SPDR Fund by 100.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 578 shares of the exchange traded fund’s stock valued at $26,000 after buying an additional 289 shares during the last quarter. Thompson Investment Management Inc. raised its stake in Materials Select Sector SPDR Fund by 100.0% during the fourth quarter. Thompson Investment Management Inc. now owns 600 shares of the exchange traded fund’s stock valued at $27,000 after buying an additional 300 shares in the last quarter. Register Financial Advisors LLC raised its stake in Materials Select Sector SPDR Fund by 58.9% during the fourth quarter. Register Financial Advisors LLC now owns 588 shares of the exchange traded fund’s stock valued at $27,000 after buying an additional 218 shares in the last quarter. Finally, Oak Harbor Wealth Partners LLC lifted its holdings in Materials Select Sector SPDR Fund by 100.0% during the 4th quarter. Oak Harbor Wealth Partners LLC now owns 600 shares of the exchange traded fund’s stock worth $27,000 after buying an additional 300 shares during the last quarter. 75.78% of the stock is owned by institutional investors and hedge funds.

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