Materials Select Sector SPDR Fund (NYSEARCA:XLB) Hits New 1-Year Low – Here’s Why

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

Materials Select Sector SPDR Fund Stock Performance

The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 25.15 and a beta of 1.06. The company has a 50-day moving average price of $87.50 and a 200-day moving average price of $90.15.

Materials Select Sector SPDR Fund Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, March 26th. Shareholders of record on Monday, March 24th were paid a $0.4068 dividend. The ex-dividend date was Monday, March 24th.

Hedge Funds Weigh In On Materials Select Sector SPDR Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Promus Capital LLC bought a new stake in Materials Select Sector SPDR Fund during the 4th quarter worth approximately $27,000. FWL Investment Management LLC acquired a new stake in shares of Materials Select Sector SPDR Fund during the fourth quarter worth $28,000. SBI Securities Co. Ltd. bought a new stake in Materials Select Sector SPDR Fund in the 4th quarter valued at $36,000. Tortoise Investment Management LLC acquired a new position in Materials Select Sector SPDR Fund in the 4th quarter worth $37,000. Finally, Avion Wealth increased its holdings in Materials Select Sector SPDR Fund by 88.2% during the 4th quarter. Avion Wealth now owns 640 shares of the exchange traded fund’s stock worth $53,000 after purchasing an additional 300 shares in the last quarter.

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.