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

Materials Select Sector SPDR Fund (NYSEARCA:XLB) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $44.46 and traded as low as $43.37. Materials Select Sector SPDR Fund shares last traded at $43.39, with a volume of 8,801,114 shares trading hands.

Materials Select Sector SPDR Fund Price Performance

The business’s 50 day simple moving average is $43.85 and its 200 day simple moving average is $44.46. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 24.55 and a beta of 1.03.

Institutional Trading of Materials Select Sector SPDR Fund

A number of hedge funds have recently added to or reduced their stakes in XLB. Menora Mivtachim Holdings LTD. increased its holdings in shares of Materials Select Sector SPDR Fund by 8.8% in the first quarter. Menora Mivtachim Holdings LTD. now owns 1,973,449 shares of the exchange traded fund’s stock valued at $169,677,000 after purchasing an additional 160,392 shares during the period. EP Wealth Advisors LLC grew its position in Materials Select Sector SPDR Fund by 6.4% in the 2nd quarter. EP Wealth Advisors LLC now owns 853,504 shares of the exchange traded fund’s stock valued at $74,946,000 after buying an additional 51,434 shares during the last quarter. Ameriprise Financial Inc. grew its position in Materials Select Sector SPDR Fund by 47.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 806,879 shares of the exchange traded fund’s stock valued at $70,845,000 after buying an additional 258,748 shares during the last quarter. Laurel Wealth Advisors LLC increased its stake in Materials Select Sector SPDR Fund by 8,680.7% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 740,303 shares of the exchange traded fund’s stock valued at $65,006,000 after buying an additional 731,872 shares during the period. Finally, SRB Corp raised its position in Materials Select Sector SPDR Fund by 1,957.8% during the 1st quarter. SRB Corp now owns 730,289 shares of the exchange traded fund’s stock worth $62,790,000 after buying an additional 694,800 shares during the last quarter. 75.78% of the stock is owned by institutional investors and hedge funds.

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.