Materials Select Sector SPDR Fund (XLB) Sees Large Decrease in Short Interest

Materials Select Sector SPDR Fund (NYSEARCA:XLB) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 12,642,529 shares, a drop of 43.4% from the October 31st total of 22,343,234 shares. Based on an average daily trading volume, of 9,274,854 shares, the short-interest ratio is presently 1.4 days.

Several institutional investors and hedge funds have recently modified their holdings of XLB. Allianz Asset Management GmbH bought a new position in Materials Select Sector SPDR Fund in the 1st quarter valued at about $695,000. Alps Advisors Inc. lifted its position in Materials Select Sector SPDR Fund by 2.1% in the 2nd quarter. Alps Advisors Inc. now owns 287,374 shares of the exchange traded fund’s stock valued at $17,395,000 after acquiring an additional 5,943 shares in the last quarter. Advisory Services Network LLC lifted its position in Materials Select Sector SPDR Fund by 18.1% in the 2nd quarter. Advisory Services Network LLC now owns 8,661 shares of the exchange traded fund’s stock valued at $516,000 after acquiring an additional 1,326 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Materials Select Sector SPDR Fund by 51.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 112,242 shares of the exchange traded fund’s stock valued at $6,518,000 after acquiring an additional 37,962 shares in the last quarter. Finally, CWM LLC lifted its position in Materials Select Sector SPDR Fund by 56.1% in the 2nd quarter. CWM LLC now owns 25,834 shares of the exchange traded fund’s stock valued at $1,500,000 after acquiring an additional 9,289 shares in the last quarter.

Shares of XLB opened at $54.61 on Monday. Materials Select Sector SPDR Fund has a one year low of $50.09 and a one year high of $64.17.

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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.

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