Materials Select Sector SPDR Fund (NYSEARCA:XLB) Stock Price Down 0.7% – Here’s Why

Materials Select Sector SPDR Fund (NYSEARCA:XLB) dropped 0.7% during trading on Thursday . The stock traded as low as $89.96 and last traded at $90.00. Approximately 3,611,140 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 4,608,600 shares. The stock had previously closed at $90.63.

Materials Select Sector SPDR Fund Price Performance

The stock has a 50 day moving average price of $93.96 and a 200-day moving average price of $92.04. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 17.15 and a beta of 0.89.

Institutional Trading of Materials Select Sector SPDR Fund

Several institutional investors have recently made changes to their positions in XLB. Greenleaf Trust boosted its position in shares of Materials Select Sector SPDR Fund by 4.1% during the 3rd quarter. Greenleaf Trust now owns 2,811 shares of the exchange traded fund’s stock worth $271,000 after purchasing an additional 111 shares during the period. IAM Advisory LLC boosted its position in shares of Materials Select Sector SPDR Fund by 3.6% during the third quarter. IAM Advisory LLC now owns 3,356 shares of the exchange traded fund’s stock worth $323,000 after buying an additional 116 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Materials Select Sector SPDR Fund by 0.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 28,377 shares of the exchange traded fund’s stock valued at $2,506,000 after buying an additional 127 shares in the last quarter. Aptus Capital Advisors LLC raised its holdings in shares of Materials Select Sector SPDR Fund by 4.7% in the 2nd quarter. Aptus Capital Advisors LLC now owns 3,203 shares of the exchange traded fund’s stock valued at $283,000 after buying an additional 143 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Materials Select Sector SPDR Fund by 10.1% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,629 shares of the exchange traded fund’s stock valued at $157,000 after acquiring an additional 150 shares during the period.

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.