Materials Select Sector SPDR Fund (NYSEARCA:XLB) Stock Passes Above 50 Day Moving Average – Here’s Why

Materials Select Sector SPDR Fund (NYSEARCA:XLB)’s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $45.29 and traded as high as $48.72. Materials Select Sector SPDR Fund shares last traded at $48.68, with a volume of 10,769,119 shares trading hands.

Materials Select Sector SPDR Fund Stock Performance

The company has a fifty day moving average of $45.49 and a two-hundred day moving average of $45.03. The company has a market cap of $5.91 billion, a PE ratio of 24.55 and a beta of 1.03.

Institutional Investors Weigh In On Materials Select Sector SPDR Fund

Several institutional investors have recently made changes to their positions in XLB. Silicon Valley Capital Partners purchased a new stake in Materials Select Sector SPDR Fund in the 2nd quarter worth about $25,000. First Command Advisory Services Inc. grew its stake in shares of Materials Select Sector SPDR Fund by 488.2% during the second quarter. First Command Advisory Services Inc. now owns 300 shares of the exchange traded fund’s stock valued at $26,000 after buying an additional 249 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Materials Select Sector SPDR Fund by 514.5% in the second quarter. Blue Trust Inc. now owns 338 shares of the exchange traded fund’s stock worth $30,000 after buying an additional 283 shares during the period. FAS Wealth Partners Inc. purchased a new stake in shares of Materials Select Sector SPDR Fund in the second quarter worth approximately $33,000. Finally, Davis Capital Management bought a new stake in shares of Materials Select Sector SPDR Fund during the 3rd quarter worth approximately $35,000. Institutional investors own 75.78% of the company’s stock.

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. The Fund’s investment advisor is SSgA Funds Management, Inc