Materials Select Sector SPDR Fund Target of Unusually Large Options Trading (NYSEARCA:XLB)

Materials Select Sector SPDR Fund (NYSEARCA:XLB) saw unusually large options trading activity on Wednesday. Traders purchased 282,461 put options on the company. This is an increase of approximately 686% compared to the average volume of 35,927 put options.

Hedge Funds Weigh In On Materials Select Sector SPDR Fund

A number of institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its position in Materials Select Sector SPDR Fund by 27.3% in the first quarter. AQR Capital Management LLC now owns 5,234 shares of the exchange traded fund’s stock worth $450,000 after buying an additional 1,123 shares in the last quarter. Empowered Funds LLC purchased a new stake in Materials Select Sector SPDR Fund in the 1st quarter worth approximately $1,217,000. DAVENPORT & Co LLC bought a new stake in Materials Select Sector SPDR Fund during the 2nd quarter worth approximately $267,000. Blue Trust Inc. raised its stake in Materials Select Sector SPDR Fund by 514.5% during the 2nd quarter. Blue Trust Inc. now owns 338 shares of the exchange traded fund’s stock worth $30,000 after acquiring an additional 283 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new position in Materials Select Sector SPDR Fund during the second quarter valued at approximately $204,000. 75.78% of the stock is owned by institutional investors.

Materials Select Sector SPDR Fund Trading Down 1.5%

Shares of XLB stock opened at $52.83 on Friday. Materials Select Sector SPDR Fund has a 12 month low of $36.56 and a 12 month high of $54.14. The stock has a market cap of $6.56 billion, a P/E ratio of 24.55 and a beta of 1.03. The company has a 50 day simple moving average of $47.79 and a two-hundred day simple moving average of $45.63.

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. The Fund’s investment advisor is SSgA Funds Management, Inc