SPDR S&P Metals & Mining ETF (NYSEARCA:XME) Reaches New 12-Month Low – What’s Next?

Shares of SPDR S&P Metals & Mining ETF (NYSEARCA:XME) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $53.20 and last traded at $53.14, with a volume of 2050097 shares trading hands. The stock had previously closed at $56.01.

SPDR S&P Metals & Mining ETF Stock Down 3.9 %

The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 13.74 and a beta of 1.41. The company’s 50-day moving average price is $59.16 and its 200-day moving average price is $61.59.

Hedge Funds Weigh In On SPDR S&P Metals & Mining ETF

A number of institutional investors and hedge funds have recently made changes to their positions in XME. Pettinga Financial Advisors LLC grew its stake in shares of SPDR S&P Metals & Mining ETF by 60.6% during the third quarter. Pettinga Financial Advisors LLC now owns 10,564 shares of the exchange traded fund’s stock worth $673,000 after purchasing an additional 3,985 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in SPDR S&P Metals & Mining ETF by 149.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 30,668 shares of the exchange traded fund’s stock worth $1,954,000 after buying an additional 18,353 shares during the last quarter. Atria Investments Inc boosted its position in shares of SPDR S&P Metals & Mining ETF by 28.7% during the 3rd quarter. Atria Investments Inc now owns 24,241 shares of the exchange traded fund’s stock worth $1,545,000 after acquiring an additional 5,405 shares in the last quarter. Ted Buchan & Co increased its holdings in shares of SPDR S&P Metals & Mining ETF by 29.2% in the 3rd quarter. Ted Buchan & Co now owns 79,437 shares of the exchange traded fund’s stock valued at $5,062,000 after acquiring an additional 17,931 shares during the last quarter. Finally, Harbour Investments Inc. raised its position in shares of SPDR S&P Metals & Mining ETF by 2.8% during the 3rd quarter. Harbour Investments Inc. now owns 23,648 shares of the exchange traded fund’s stock worth $1,507,000 after acquiring an additional 639 shares in the last quarter.

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.