Materials Select Sector SPDR Fund (NYSEARCA:XLB – Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 198,579 put options on the company. This represents an increase of approximately 422% compared to the average daily volume of 38,049 put options.
Hedge Funds Weigh In On Materials Select Sector SPDR Fund
Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE raised its stake in Materials Select Sector SPDR Fund by 1.0% during the 1st quarter. Bank of America Corp DE now owns 9,756,100 shares of the exchange traded fund’s stock worth $487,512,000 after buying an additional 93,372 shares during the period. Morgan Stanley lifted its holdings in Materials Select Sector SPDR Fund by 112.6% during the fourth quarter. Morgan Stanley now owns 7,499,014 shares of the exchange traded fund’s stock worth $340,080,000 after acquiring an additional 3,972,016 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Materials Select Sector SPDR Fund by 99.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,210,960 shares of the exchange traded fund’s stock valued at $236,317,000 after acquiring an additional 2,601,880 shares during the period. Royal Bank of Canada grew its stake in Materials Select Sector SPDR Fund by 211.3% in the first quarter. Royal Bank of Canada now owns 2,442,259 shares of the exchange traded fund’s stock valued at $122,040,000 after acquiring an additional 1,657,671 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Materials Select Sector SPDR Fund by 97.4% in the fourth quarter. Wells Fargo & Company MN now owns 2,407,870 shares of the exchange traded fund’s stock worth $109,197,000 after acquiring an additional 1,188,168 shares in the last quarter. Institutional investors and hedge funds own 75.78% of the company’s stock.
Materials Select Sector SPDR Fund Stock Performance
Shares of NYSEARCA:XLB opened at $50.83 on Wednesday. Materials Select Sector SPDR Fund has a 52 week low of $42.03 and a 52 week high of $54.14. The company has a market capitalization of $7.24 billion, a PE ratio of 24.55 and a beta of 0.91. The company has a 50 day moving average price of $51.29 and a two-hundred day moving average price of $50.14.
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
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