Materials Select Sector SPDR Fund (NYSEARCA:XLB) Sees Significant Increase in Short Interest

Materials Select Sector SPDR Fund (NYSEARCA:XLB) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 23,098,271 shares, a growth of 32.9% from the December 31st total of 17,376,558 shares. Currently, 19.6% of the company’s stock are sold short. Based on an average daily volume of 15,945,364 shares, the days-to-cover ratio is presently 1.4 days. Based on an average daily volume of 15,945,364 shares, the days-to-cover ratio is presently 1.4 days. Currently, 19.6% of the company’s stock are sold short.

Institutional Trading of Materials Select Sector SPDR Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC increased its holdings in Materials Select Sector SPDR Fund by 27.3% during the 1st quarter. AQR Capital Management LLC now owns 5,234 shares of the exchange traded fund’s stock worth $450,000 after purchasing an additional 1,123 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Materials Select Sector SPDR Fund during the first quarter worth approximately $1,217,000. Janney Montgomery Scott LLC grew its position in shares of Materials Select Sector SPDR Fund by 16.7% during the second quarter. Janney Montgomery Scott LLC now owns 84,148 shares of the exchange traded fund’s stock worth $7,389,000 after buying an additional 12,049 shares in the last quarter. OLD National Bancorp IN increased its stake in shares of Materials Select Sector SPDR Fund by 250.2% in the second quarter. OLD National Bancorp IN now owns 76,849 shares of the exchange traded fund’s stock worth $6,748,000 after buying an additional 54,907 shares during the last quarter. Finally, DAVENPORT & Co LLC acquired a new stake in Materials Select Sector SPDR Fund in the second quarter valued at $267,000. 75.78% of the stock is owned by hedge funds and other institutional investors.

Materials Select Sector SPDR Fund Trading Up 2.1%

XLB opened at $50.70 on Wednesday. Materials Select Sector SPDR Fund has a twelve month low of $36.56 and a twelve month high of $51.22. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of 24.55 and a beta of 1.03. The company has a fifty day simple moving average of $46.71 and a 200 day simple moving average of $45.32.

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