Materials Select Sector SPDR Fund (NYSEARCA:XLB) Sets New 12-Month High – Still a Buy?

Materials Select Sector SPDR Fund (NYSEARCA:XLB) hit a new 52-week high during trading on Monday . The company traded as high as $54.19 and last traded at $53.9550, with a volume of 3772893 shares changing hands. The stock had previously closed at $53.54.

Materials Select Sector SPDR Fund Trading Down 0.1%

The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 24.55 and a beta of 0.92. The company has a fifty day moving average of $51.59 and a two-hundred day moving average of $51.28.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Main Street Group LTD bought a new stake in shares of Materials Select Sector SPDR Fund during the first quarter valued at approximately $25,000. Ashton Thomas Securities LLC acquired a new position in Materials Select Sector SPDR Fund during the 1st quarter worth about $26,000. Turning Point Benefit Group Inc. acquired a new stake in shares of Materials Select Sector SPDR Fund in the fourth quarter valued at approximately $25,000. TD Waterhouse Canada Inc. lifted its holdings in Materials Select Sector SPDR Fund by 100.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 578 shares of the exchange traded fund’s stock worth $26,000 after buying an additional 289 shares in the last quarter. Finally, Oak Harbor Wealth Partners LLC boosted its position in Materials Select Sector SPDR Fund by 100.0% in the 4th quarter. Oak Harbor Wealth Partners LLC now owns 600 shares of the exchange traded fund’s stock valued at $27,000 after buying an additional 300 shares during the last quarter. 75.78% of the stock is owned by institutional investors.

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. The Fund’s investment advisor is SSgA Funds Management, Inc