Materials Select Sector SPDR Fund (NYSEARCA:XLB) Trading Down 0.7% – Here’s Why

Materials Select Sector SPDR Fund (NYSEARCA:XLB) traded down 0.7% during trading on Thursday . The stock traded as low as $89.96 and last traded at $90.00. 3,611,140 shares were traded during trading, a decline of 22% from the average session volume of 4,608,600 shares. The stock had previously closed at $90.63.

Materials Select Sector SPDR Fund Price Performance

The firm has a 50-day moving average of $94.08 and a 200 day moving average of $92.05. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 17.15 and a beta of 0.89.

Institutional Trading of Materials Select Sector SPDR Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC boosted its stake in shares of Materials Select Sector SPDR Fund by 106.7% during the 3rd quarter. Lowe Wealth Advisors LLC now owns 310 shares of the exchange traded fund’s stock worth $30,000 after acquiring an additional 160 shares during the period. Marquette Asset Management LLC bought a new position in Materials Select Sector SPDR Fund during the third quarter worth $31,000. Solstein Capital LLC acquired a new position in shares of Materials Select Sector SPDR Fund in the second quarter valued at $40,000. Hantz Financial Services Inc. bought a new position in shares of Materials Select Sector SPDR Fund in the second quarter valued at about $59,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Materials Select Sector SPDR Fund during the 2nd quarter worth about $70,000.

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.