Short Interest in Materials Select Sector SPDR (XLB) Drops By 22.6%

Materials Select Sector SPDR (NYSEARCA:XLB) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 13,724,538 shares, a drop of 22.6% from the January 12th total of 17,735,116 shares. Based on an average daily volume of 6,782,097 shares, the days-to-cover ratio is currently 2.0 days.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XLB. Crewe Advisors LLC purchased a new position in shares of Materials Select Sector SPDR in the 4th quarter valued at $104,000. Patten Group Inc. increased its holdings in shares of Materials Select Sector SPDR by 2,849.5% in the 3rd quarter. Patten Group Inc. now owns 55,037 shares of the exchange traded fund’s stock valued at $105,000 after acquiring an additional 53,171 shares during the period. Trustcore Financial Services LLC purchased a new position in shares of Materials Select Sector SPDR in the 4th quarter valued at $123,000. Cerebellum GP LLC purchased a new position in shares of Materials Select Sector SPDR in the 4th quarter valued at $130,000. Finally, Mosaic Family Wealth LLC purchased a new position in shares of Materials Select Sector SPDR in the 4th quarter valued at $179,000.

Materials Select Sector SPDR (NYSEARCA:XLB) opened at $59.45 on Wednesday. The company has a market capitalization of $5,040.00 and a price-to-earnings ratio of -7.98. Materials Select Sector SPDR has a fifty-two week low of $51.04 and a fifty-two week high of $64.17.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by American Banking News and is owned by of American Banking News. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2018/02/14/short-interest-in-materials-select-sector-spdr-xlb-drops-by-22-6.html.

About Materials Select Sector SPDR

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.

Receive News & Ratings for Materials Select Sector SPDR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Materials Select Sector SPDR and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply