Materials Select Sector SPDR Fund (NYSEARCA:XLB) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

Materials Select Sector SPDR Fund (NYSEARCA:XLB) passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $51.22 and traded as low as $50.61. Materials Select Sector SPDR Fund shares last traded at $51.23, with a volume of 11,285,392 shares.

Materials Select Sector SPDR Fund Price Performance

The stock has a 50 day moving average price of $51.04 and a 200-day moving average price of $51.24. The stock has a market capitalization of $8.01 billion, a P/E ratio of 24.55 and a beta of 0.92.

Institutional Investors Weigh In On Materials Select Sector SPDR Fund

A number of large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. lifted its holdings in shares of Materials Select Sector SPDR Fund by 385.7% during the second quarter. Envestnet Asset Management Inc. now owns 5,388,001 shares of the exchange traded fund’s stock valued at $273,872,000 after purchasing an additional 4,278,731 shares during the last quarter. Royal Bank of Canada raised its holdings in Materials Select Sector SPDR Fund by 211.3% in the first quarter. Royal Bank of Canada now owns 2,442,259 shares of the exchange traded fund’s stock worth $122,040,000 after buying an additional 1,657,671 shares during the last quarter. Bellwether Advisors LLC purchased a new position in Materials Select Sector SPDR Fund in the 1st quarter worth approximately $34,107,000. Passaic Partners LLC bought a new stake in Materials Select Sector SPDR Fund in the 2nd quarter worth about $19,176,000. Finally, Royal Fund Management LLC purchased a new position in shares of Materials Select Sector SPDR Fund in the 1st quarter worth $12,125,000. 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