Broadmark Asset Management LLC Invests $1.49 Million in Materials Select Sector SPDR (XLB) Stock

Broadmark Asset Management LLC bought a new position in Materials Select Sector SPDR (NYSEARCA:XLB) in the fourth quarter, HoldingsChannel reports. The fund bought 24,532 shares of the exchange traded fund’s stock, valued at approximately $1,485,000. Materials Select Sector SPDR accounts for 0.5% of Broadmark Asset Management LLC’s investment portfolio, making the stock its 9th biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brookstone Capital Management acquired a new stake in Materials Select Sector SPDR in the third quarter worth approximately $9,297,000. Bank of New York Mellon Corp lifted its position in Materials Select Sector SPDR by 18.5% in the third quarter. Bank of New York Mellon Corp now owns 17,211 shares of the exchange traded fund’s stock worth $978,000 after purchasing an additional 2,684 shares during the period. Rockland Trust Co. lifted its position in Materials Select Sector SPDR by 2,286.3% in the fourth quarter. Rockland Trust Co. now owns 252,330 shares of the exchange traded fund’s stock worth $15,274,000 after purchasing an additional 241,756 shares during the period. Hefty Wealth Partners acquired a new stake in Materials Select Sector SPDR in the fourth quarter worth approximately $3,580,000. Finally, Benjamin F. Edwards & Company Inc. lifted its position in Materials Select Sector SPDR by 9.5% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 52,969 shares of the exchange traded fund’s stock worth $3,009,000 after purchasing an additional 4,574 shares during the period.

Shares of Materials Select Sector SPDR (XLB) opened at $60.48 on Monday. The firm has a market capitalization of $5,080.00 and a P/E ratio of -8.12. Materials Select Sector SPDR has a 52-week low of $51.04 and a 52-week high of $64.17.

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Materials Select Sector SPDR 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.

Want to see what other hedge funds are holding XLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Materials Select Sector SPDR (NYSEARCA:XLB).

Institutional Ownership by Quarter for Materials Select Sector SPDR (NYSEARCA:XLB)

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