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

Materials Select Sector SPDR Fund (NYSEARCA:XLB)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $91.13 and traded as low as $86.47. Materials Select Sector SPDR Fund shares last traded at $88.04, with a volume of 8,684,337 shares trading hands.

Materials Select Sector SPDR Fund Price Performance

The firm’s 50 day moving average is $87.44 and its 200 day moving average is $91.13. The company has a market cap of $5.63 billion, a PE ratio of 24.84 and a beta of 1.08.

Hedge Funds Weigh In On Materials Select Sector SPDR Fund

Several hedge funds have recently bought and sold shares of the company. Barclays PLC grew its stake in Materials Select Sector SPDR Fund by 216.1% during the fourth 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. Cibc World Market Inc. grew its stake in 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 worth $205,028,000 after buying an additional 1,435,916 shares in the last quarter. Menora Mivtachim Holdings LTD. purchased a new position in Materials Select Sector SPDR Fund in the 4th quarter worth approximately $152,551,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Materials Select Sector SPDR Fund by 61.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 970,000 shares of the exchange traded fund’s stock worth $93,489,000 after buying an additional 370,000 shares in the last quarter. Finally, Commerce Bank grew its stake in Materials Select Sector SPDR Fund by 77.9% in the 4th quarter. Commerce Bank now owns 955,524 shares of the exchange traded fund’s stock worth $80,398,000 after buying an additional 418,300 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.