Cumberland Advisors Inc. Lowers Stake in SPDR S&P Metals & Mining ETF (NYSEARCA:XME)

Cumberland Advisors Inc. cut its holdings in shares of SPDR S&P Metals & Mining ETF (NYSEARCA:XME) by 78.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 44,831 shares of the exchange traded fund’s stock after selling 166,460 shares during the period. SPDR S&P Metals & Mining ETF accounts for 1.0% of Cumberland Advisors Inc.’s investment portfolio, making the stock its 23rd largest holding. Cumberland Advisors Inc.’s holdings in SPDR S&P Metals & Mining ETF were worth $2,702,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp purchased a new position in shares of SPDR S&P Metals & Mining ETF in the 4th quarter valued at $42,000. Quintet Private Bank Europe S.A. purchased a new position in SPDR S&P Metals & Mining ETF during the 4th quarter worth $45,000. Belpointe Asset Management LLC purchased a new position in SPDR S&P Metals & Mining ETF during the 3rd quarter worth $203,000. Axxcess Wealth Management LLC purchased a new position in SPDR S&P Metals & Mining ETF during the 4th quarter worth $212,000. Finally, Avitas Wealth Management LLC purchased a new position in SPDR S&P Metals & Mining ETF during the 4th quarter worth $213,000.

SPDR S&P Metals & Mining ETF Stock Performance

SPDR S&P Metals & Mining ETF stock traded down $0.25 during midday trading on Thursday, hitting $58.47. 596,167 shares of the company’s stock were exchanged, compared to its average volume of 2,881,714. SPDR S&P Metals & Mining ETF has a 12-month low of $48.01 and a 12-month high of $65.36. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 6.15 and a beta of 1.20. The firm’s 50 day simple moving average is $61.18 and its 200 day simple moving average is $59.13.

SPDR S&P Metals & Mining ETF Company Profile

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.