SPDR S&P Metals & Mining ETF (NYSEARCA:XME) Sets New 12-Month High – Here’s Why

Shares of SPDR S&P Metals & Mining ETF (NYSEARCA:XME) reached a new 52-week high during trading on Wednesday . The company traded as high as $68.40 and last traded at $68.24, with a volume of 41453 shares. The stock had previously closed at $64.67.

SPDR S&P Metals & Mining ETF Stock Down 0.6 %

The company has a 50 day moving average price of $62.24 and a 200-day moving average price of $61.28. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 6.15 and a beta of 1.20.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in XME. Meitav Investment House Ltd. increased its stake in shares of SPDR S&P Metals & Mining ETF by 78.0% in the second quarter. Meitav Investment House Ltd. now owns 1,026,759 shares of the exchange traded fund’s stock valued at $60,902,000 after buying an additional 450,000 shares during the period. Mirae Asset Securities USA Inc. acquired a new position in shares of SPDR S&P Metals & Mining ETF in the second quarter valued at approximately $14,832,000. Raymond James & Associates increased its stake in shares of SPDR S&P Metals & Mining ETF by 274.5% in the third quarter. Raymond James & Associates now owns 305,812 shares of the exchange traded fund’s stock valued at $19,486,000 after buying an additional 224,151 shares during the period. Financial Advocates Investment Management acquired a new stake in SPDR S&P Metals & Mining ETF during the 3rd quarter valued at approximately $12,677,000. Finally, Commonwealth Equity Services LLC increased its position in SPDR S&P Metals & Mining ETF by 160.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 295,778 shares of the exchange traded fund’s stock valued at $17,549,000 after purchasing an additional 182,306 shares during the period.

About SPDR S&P Metals & Mining ETF

SPDR S&P Metals & Mining ETF (the Fund) seeks to replicate as closely as possible the performance of the S&P Metals & Mining Select Industry Index (the Index). The Index is an equal weighted market cap index. The Index represents the metals and mining sub-industry portion of the S&P Total Market Index.