Materials Select Sector SPDR Fund (NYSEARCA:XLB) Share Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

Materials Select Sector SPDR Fund (NYSEARCA:XLB) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $46.77 and traded as low as $46.73. Materials Select Sector SPDR Fund shares last traded at $46.98, with a volume of 19,733,463 shares.

Materials Select Sector SPDR Fund Stock Performance

The company’s 50 day moving average price is $50.73 and its 200-day moving average price is $46.77. The stock has a market cap of $5.84 billion, a P/E ratio of 24.55 and a beta of 1.03.

Hedge Funds Weigh In On Materials Select Sector SPDR Fund

Hedge funds and other institutional investors have recently modified their holdings of the business. Measured Wealth Private Client Group LLC grew its position in Materials Select Sector SPDR Fund by 2.9% during the 2nd quarter. Measured Wealth Private Client Group LLC now owns 44,109 shares of the exchange traded fund’s stock worth $3,873,000 after acquiring an additional 1,253 shares during the last quarter. J.W. Cole Advisors Inc. increased its stake in Materials Select Sector SPDR Fund by 7.9% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 15,704 shares of the exchange traded fund’s stock worth $1,379,000 after purchasing an additional 1,154 shares during the period. Laurel Wealth Advisors LLC lifted its position in Materials Select Sector SPDR Fund by 8,680.7% in the second quarter. Laurel Wealth Advisors LLC now owns 740,303 shares of the exchange traded fund’s stock valued at $65,006,000 after purchasing an additional 731,872 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Materials Select Sector SPDR Fund during the second quarter valued at approximately $1,553,000. Finally, One Charles Private Wealth Services LLC grew its holdings in shares of Materials Select Sector SPDR Fund by 10.1% in the second quarter. One Charles Private Wealth Services LLC now owns 3,665 shares of the exchange traded fund’s stock worth $322,000 after purchasing an additional 336 shares during the last quarter. Hedge funds and other institutional investors own 75.78% of the company’s stock.

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