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) passed 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 company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 24.84 and a beta of 1.08. The stock has a 50 day simple moving average of $87.71 and a two-hundred day simple moving average of $90.88.

Hedge Funds Weigh In On Materials Select Sector SPDR Fund

Several hedge funds have recently made changes to their positions in the company. Promus Capital LLC purchased a new position in shares of Materials Select Sector SPDR Fund during the fourth quarter worth about $27,000. FWL Investment Management LLC acquired a new stake in Materials Select Sector SPDR Fund in the fourth quarter valued at about $28,000. SBI Securities Co. Ltd. acquired a new stake in Materials Select Sector SPDR Fund in the fourth quarter valued at about $36,000. Tortoise Investment Management LLC acquired a new stake in Materials Select Sector SPDR Fund in the fourth quarter valued at about $37,000. Finally, Avion Wealth lifted its position 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 valued at $53,000 after purchasing an additional 300 shares during the period.

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.