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

Materials Select Sector SPDR Fund (NYSEARCA:XLB) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $91.16 and traded as low as $89.83. Materials Select Sector SPDR Fund shares last traded at $89.85, with a volume of 4,812,611 shares trading hands.

Materials Select Sector SPDR Fund Stock Down 1.2 %

The company has a market cap of $5.62 billion, a P/E ratio of 17.15 and a beta of 0.89. The business has a fifty day simple moving average of $87.23 and a two-hundred day simple moving average of $91.16.

Hedge Funds Weigh In On Materials Select Sector SPDR Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Promus Capital LLC purchased a new position in Materials Select Sector SPDR Fund during the fourth quarter valued at approximately $27,000. FWL Investment Management LLC purchased a new position in shares of Materials Select Sector SPDR Fund during the 4th quarter valued at $28,000. SBI Securities Co. Ltd. purchased a new position in shares of Materials Select Sector SPDR Fund during the 4th quarter valued at $36,000. Tortoise Investment Management LLC bought a new position in Materials Select Sector SPDR Fund in the 4th quarter worth $37,000. Finally, Avion Wealth increased its stake in Materials Select Sector SPDR Fund by 88.2% in the 4th quarter. Avion Wealth now owns 640 shares of the exchange traded fund’s stock worth $53,000 after buying an additional 300 shares in the last quarter.

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.