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

Materials Select Sector SPDR Fund (NYSEARCA:XLB)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $91.24 and traded as low as $88.20. Materials Select Sector SPDR Fund shares last traded at $88.29, with a volume of 6,772,795 shares traded.

Materials Select Sector SPDR Fund Stock Down 1.2 %

The firm has a market cap of $5.52 billion, a PE ratio of 17.15 and a beta of 0.89. The company has a 50-day simple moving average of $87.81 and a two-hundred day simple moving average of $91.24.

Hedge Funds Weigh In On Materials Select Sector SPDR Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Promus Capital LLC bought a new stake in shares of Materials Select Sector SPDR Fund in the fourth quarter valued at $27,000. SBI Securities Co. Ltd. purchased a new stake in Materials Select Sector SPDR Fund in the 4th quarter worth about $36,000. Tortoise Investment Management LLC bought a new stake in Materials Select Sector SPDR Fund in the 4th quarter valued at about $37,000. Avion Wealth lifted its holdings in Materials Select Sector SPDR Fund by 88.2% during the fourth quarter. Avion Wealth now owns 640 shares of the exchange traded fund’s stock valued at $53,000 after purchasing an additional 300 shares during the last quarter. Finally, Bank of Jackson Hole Trust purchased a new stake in Materials Select Sector SPDR Fund during the fourth quarter valued at about $79,000.

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.