Materials Select Sector SPDR Fund (NYSEARCA:XLB) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

Materials Select Sector SPDR Fund (NYSEARCA:XLB)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $90.92 and traded as low as $84.34. Materials Select Sector SPDR Fund shares last traded at $84.87, with a volume of 5,141,476 shares trading hands.

Materials Select Sector SPDR Fund Price Performance

The firm’s fifty day moving average price is $87.71 and its 200-day moving average price is $90.88. The firm has a market capitalization of $5.50 billion, a P/E ratio of 24.84 and a beta of 1.08.

Institutional Trading of Materials Select Sector SPDR Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC lifted its position in shares of Materials Select Sector SPDR Fund by 216.1% in the 4th quarter. Barclays PLC now owns 5,031,533 shares of the exchange traded fund’s stock valued at $423,353,000 after acquiring an additional 3,439,575 shares in the last quarter. Menora Mivtachim Holdings LTD. purchased a new stake in shares of Materials Select Sector SPDR Fund in the 4th quarter valued at approximately $152,551,000. Cibc World Market Inc. lifted its position in shares of Materials Select Sector SPDR Fund by 143.5% in the 4th quarter. Cibc World Market Inc. now owns 2,436,753 shares of the exchange traded fund’s stock valued at $205,028,000 after acquiring an additional 1,435,916 shares in the last quarter. Bank of Nova Scotia purchased a new stake in shares of Materials Select Sector SPDR Fund in the 4th quarter valued at approximately $63,105,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Materials Select Sector SPDR Fund in the 3rd quarter valued at approximately $65,047,000.

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.