Materials Select Sector SPDR Fund (NYSEARCA:XLB) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Materials Select Sector SPDR Fund (NYSEARCA:XLB) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $86.82 and traded as low as $86.02. Materials Select Sector SPDR Fund shares last traded at $86.72, with a volume of 14,263,288 shares trading hands.

Materials Select Sector SPDR Fund Stock Performance

The stock’s 50 day moving average is $88.92 and its 200 day moving average is $86.82. The company has a market capitalization of $5.31 billion, a PE ratio of 24.55 and a beta of 1.06.

Institutional Investors Weigh In On Materials Select Sector SPDR Fund

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in shares of Materials Select Sector SPDR Fund by 18.5% in the fourth quarter. JPMorgan Chase & Co. now owns 251,055 shares of the exchange traded fund’s stock valued at $21,124,000 after acquiring an additional 39,258 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in Materials Select Sector SPDR Fund by 67.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,743 shares of the exchange traded fund’s stock worth $147,000 after purchasing an additional 700 shares in the last quarter. Cullen Capital Management LLC boosted its holdings in Materials Select Sector SPDR Fund by 4,231.1% in the 4th quarter. Cullen Capital Management LLC now owns 174,325 shares of the exchange traded fund’s stock valued at $14,668,000 after purchasing an additional 170,300 shares during the period. Wedbush Securities Inc. grew its position in shares of Materials Select Sector SPDR Fund by 3.0% during the 4th quarter. Wedbush Securities Inc. now owns 5,252 shares of the exchange traded fund’s stock valued at $442,000 after purchasing an additional 151 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Materials Select Sector SPDR Fund during the 4th quarter valued at $492,000. Hedge funds and other institutional investors own 75.78% of the company’s stock.

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.