Materials Select Sector SPDR Fund (NYSEARCA:XLB) Hits New 52-Week Low – Time to Sell?

Materials Select Sector SPDR Fund (NYSEARCA:XLB)’s share price reached 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 traded. The stock had previously closed at $87.01.

Materials Select Sector SPDR Fund Trading Down 4.5 %

The company has a market capitalization of $5.06 billion, a P/E ratio of 25.15 and a beta of 1.06. The business has a 50 day moving average price of $87.85 and a 200 day moving average price of $90.31.

Materials Select Sector SPDR Fund Cuts Dividend

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

Institutional Investors Weigh In On Materials Select Sector SPDR Fund

Several institutional investors have recently bought and sold shares of XLB. Barclays PLC lifted its stake in Materials Select Sector SPDR Fund by 216.1% in the fourth quarter. Barclays PLC now owns 5,031,533 shares of the exchange traded fund’s stock valued at $423,353,000 after acquiring an additional 3,439,575 shares during the last quarter. Cibc World Market Inc. lifted its position in Materials Select Sector SPDR Fund by 143.5% during the fourth quarter. Cibc World Market Inc. now owns 2,436,753 shares of the exchange traded fund’s stock worth $205,028,000 after acquiring an additional 1,435,916 shares during the last quarter. Menora Mivtachim Holdings LTD. bought a new stake in shares of Materials Select Sector SPDR Fund during the fourth quarter worth approximately $152,551,000. Commerce Bank grew its position in shares of Materials Select Sector SPDR Fund by 77.9% in the fourth quarter. Commerce Bank now owns 955,524 shares of the exchange traded fund’s stock valued at $80,398,000 after purchasing an additional 418,300 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its stake in shares of Materials Select Sector SPDR Fund by 3.6% during the fourth quarter. EP Wealth Advisors LLC now owns 755,687 shares of the exchange traded fund’s stock worth $63,584,000 after purchasing an additional 26,133 shares during the period.

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.