Materials Select Sector SPDR Fund (NYSEARCA:XLB) Hits New 52-Week Low – What’s Next?

Shares of Materials Select Sector SPDR Fund (NYSEARCA:XLB) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $82.86 and last traded at $83.03, with a volume of 7598278 shares trading hands. The stock had previously closed at $87.01.

Materials Select Sector SPDR Fund Stock Down 6.3 %

The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 25.15 and a beta of 1.06. The stock’s 50-day simple moving average is $87.50 and its 200 day simple moving average is $90.15.

Materials Select Sector SPDR Fund Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, March 26th. Investors of record on Monday, March 24th were given a dividend of $0.4068 per share. The ex-dividend date was Monday, March 24th.

Institutional Trading of Materials Select Sector SPDR Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Orion Portfolio Solutions LLC increased its stake in shares of Materials Select Sector SPDR Fund by 277.1% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 9,502 shares of the exchange traded fund’s stock valued at $916,000 after buying an additional 6,982 shares during the period. M&T Bank Corp raised its holdings in Materials Select Sector SPDR Fund by 15.2% during the 3rd quarter. M&T Bank Corp now owns 16,791 shares of the exchange traded fund’s stock worth $1,619,000 after purchasing an additional 2,217 shares during the last quarter. FMR LLC lifted its position in Materials Select Sector SPDR Fund by 2.0% during the 3rd quarter. FMR LLC now owns 42,709 shares of the exchange traded fund’s stock valued at $4,116,000 after purchasing an additional 846 shares during the period. Quantinno Capital Management LP grew its position in shares of Materials Select Sector SPDR Fund by 12.1% during the 3rd quarter. Quantinno Capital Management LP now owns 15,054 shares of the exchange traded fund’s stock worth $1,451,000 after buying an additional 1,628 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Materials Select Sector SPDR Fund during the third quarter worth approximately $1,004,000.

Materials Select Sector SPDR Fund Company Profile

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.