Materials Select Sector SPDR Fund (NYSEARCA:XLB) Shares Cross Below 200 Day Moving Average – Should You Sell?

Materials Select Sector SPDR Fund (NYSEARCA:XLB)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $51.22 and traded as low as $49.91. Materials Select Sector SPDR Fund shares last traded at $50.36, with a volume of 9,586,876 shares trading hands.

Materials Select Sector SPDR Fund Trading Down 1.2%

The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of 24.55 and a beta of 0.92. The business has a 50-day moving average price of $51.82 and a two-hundred day moving average price of $51.21.

Hedge Funds Weigh In On Materials Select Sector SPDR Fund

Several hedge funds and other institutional investors have recently modified their holdings of XLB. Goldman Sachs Group Inc. raised its stake in shares of Materials Select Sector SPDR Fund by 99.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,210,960 shares of the exchange traded fund’s stock valued at $236,317,000 after purchasing an additional 2,601,880 shares in the last quarter. Royal Bank of Canada increased its stake in Materials Select Sector SPDR Fund by 211.3% during the 1st quarter. Royal Bank of Canada now owns 2,442,259 shares of the exchange traded fund’s stock valued at $122,040,000 after buying an additional 1,657,671 shares during the period. Main Management ETF Advisors LLC acquired a new position in Materials Select Sector SPDR Fund during the 4th quarter valued at about $72,742,000. Cibc World Market Inc. raised its position in shares of Materials Select Sector SPDR Fund by 100.0% during the 4th quarter. Cibc World Market Inc. now owns 2,000,940 shares of the exchange traded fund’s stock worth $90,743,000 after buying an additional 1,000,420 shares in the last quarter. Finally, SRB Corp raised its position in shares of Materials Select Sector SPDR Fund by 100.0% during the 4th quarter. SRB Corp now owns 1,729,580 shares of the exchange traded fund’s stock worth $78,436,000 after buying an additional 864,790 shares in the last quarter. Institutional investors and hedge funds 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