Materials Select Sector SPDR Fund (NYSEARCA:XLB) Share Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

Shares of Materials Select Sector SPDR Fund (NYSEARCA:XLB) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $91.32 and traded as low as $88.72. Materials Select Sector SPDR Fund shares last traded at $88.74, with a volume of 5,947,080 shares.

Materials Select Sector SPDR Fund Stock Down 0.8 %

The stock has a fifty day simple moving average of $88.73 and a 200 day simple moving average of $91.32. The firm has a market capitalization of $5.55 billion, a P/E ratio of 17.15 and a beta of 0.89.

Institutional Investors Weigh In On Materials Select Sector SPDR Fund

Institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans grew its position in shares of Materials Select Sector SPDR Fund by 12.1% during the second quarter. Thrivent Financial for Lutherans now owns 119,363 shares of the exchange traded fund’s stock valued at $10,541,000 after purchasing an additional 12,838 shares in the last quarter. Bank of Montreal Can increased its stake in Materials Select Sector SPDR Fund by 0.4% in the 2nd quarter. Bank of Montreal Can now owns 87,797 shares of the exchange traded fund’s stock worth $7,789,000 after acquiring an additional 344 shares during the last quarter. Mill Creek Capital Advisors LLC raised its holdings in shares of Materials Select Sector SPDR Fund by 7.4% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 2,755 shares of the exchange traded fund’s stock worth $243,000 after acquiring an additional 190 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Materials Select Sector SPDR Fund by 36.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 244,792 shares of the exchange traded fund’s stock valued at $21,618,000 after acquiring an additional 64,792 shares during the last quarter. Finally, Susquehanna International Group Ltd. bought a new stake in Materials Select Sector SPDR Fund in the second quarter worth $333,000.

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.