Materials Select Sector SPDR Fund (NYSEARCA:XLB) Share Price Breaks 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 Friday. The stock has a 200-day moving average of $51.12 and traded as low as $48.80. Materials Select Sector SPDR Fund shares last traded at $48.86, with a volume of 13,935,728 shares trading hands.

Materials Select Sector SPDR Fund Stock Up 0.7%

The firm has a market capitalization of $7.81 billion, a P/E ratio of 24.55 and a beta of 0.92. The company’s 50 day moving average is $51.58 and its 200-day moving average is $51.12.

Institutional Trading of Materials Select Sector SPDR Fund

Several large investors have recently made changes to their positions in the company. Hudock Inc. raised its holdings in shares of Materials Select Sector SPDR Fund by 100.5% in the fourth quarter. Hudock Inc. now owns 5,764 shares of the exchange traded fund’s stock valued at $261,000 after purchasing an additional 2,889 shares during the last quarter. Advisory Resource Group boosted its holdings in Materials Select Sector SPDR Fund by 336.2% during the fourth quarter. Advisory Resource Group now owns 59,380 shares of the exchange traded fund’s stock worth $2,693,000 after purchasing an additional 45,767 shares during the last quarter. J.Safra Asset Management Corp boosted its holdings in Materials Select Sector SPDR Fund by 111.4% during the fourth quarter. J.Safra Asset Management Corp now owns 371,685 shares of the exchange traded fund’s stock worth $16,856,000 after purchasing an additional 195,836 shares during the last quarter. Artesa Financial Group LLC bought a new stake in Materials Select Sector SPDR Fund in the 4th quarter worth about $2,927,000. Finally, Passaic Partners LLC bought a new stake in Materials Select Sector SPDR Fund in the 4th quarter worth about $19,895,000. 75.78% of the stock is currently owned by institutional investors and hedge funds.

About Materials Select Sector SPDR Fund

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