Materials Select Sector SPDR Fund (NYSEARCA:XLB) Reaches New 1-Year High – Still a Buy?

Materials Select Sector SPDR Fund (NYSEARCA:XLB) hit a new 52-week high on Tuesday . The company traded as high as $50.65 and last traded at $50.5550, with a volume of 2068996 shares. The stock had previously closed at $49.65.

Materials Select Sector SPDR Fund Stock Up 2.8%

The business’s fifty day moving average is $46.57 and its two-hundred day moving average is $45.28. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 24.55 and a beta of 1.03.

Institutional Trading of Materials Select Sector SPDR Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ally Invest Advisors Inc. raised its stake in shares of Materials Select Sector SPDR Fund by 3.9% during the second quarter. Ally Invest Advisors Inc. now owns 2,922 shares of the exchange traded fund’s stock worth $257,000 after buying an additional 110 shares during the last quarter. St. Johns Investment Management Company LLC grew its holdings in Materials Select Sector SPDR Fund by 3.6% during the 3rd quarter. St. Johns Investment Management Company LLC now owns 3,299 shares of the exchange traded fund’s stock worth $296,000 after acquiring an additional 115 shares during the period. Ellis Investment Partners LLC lifted its stake in shares of Materials Select Sector SPDR Fund by 2.5% in the 3rd quarter. Ellis Investment Partners LLC now owns 4,712 shares of the exchange traded fund’s stock valued at $422,000 after purchasing an additional 117 shares during the period. Chilton Capital Management LLC lifted its stake in shares of Materials Select Sector SPDR Fund by 11.5% in the 2nd quarter. Chilton Capital Management LLC now owns 1,153 shares of the exchange traded fund’s stock valued at $101,000 after purchasing an additional 119 shares during the period. Finally, Moment Partners LLC boosted its position in shares of Materials Select Sector SPDR Fund by 0.7% in the 3rd quarter. Moment Partners LLC now owns 16,732 shares of the exchange traded fund’s stock worth $1,500,000 after purchasing an additional 121 shares during the last quarter. 75.78% of the stock is owned by institutional investors.

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