Materials Select Sector SPDR Fund (NYSEARCA:XLB) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Materials Select Sector SPDR Fund (NYSEARCA:XLB) crossed 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 changing hands.

Materials Select Sector SPDR Fund Stock Performance

The firm has a 50-day moving average of $87.81 and a 200-day moving average of $91.24. The firm has a market capitalization of $5.52 billion, a P/E ratio of 17.15 and a beta of 0.89.

Institutional Inflows and Outflows

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