Materials Select Sector SPDR Fund (NYSEARCA:XLB) Shares Cross Below Two Hundred Day Moving Average of $88.01

Materials Select Sector SPDR Fund (NYSEARCA:XLB)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $88.01 and traded as low as $87.32. Materials Select Sector SPDR Fund shares last traded at $87.76, with a volume of 2,295,553 shares changing hands.

Materials Select Sector SPDR Fund Stock Performance

The company has a market capitalization of $5.49 billion, a PE ratio of 17.15 and a beta of 0.89. The firm’s 50-day simple moving average is $90.07 and its 200 day simple moving average is $88.01.

Institutional Investors Weigh In On Materials Select Sector SPDR Fund

Several institutional investors have recently modified their holdings of XLB. Morgan Stanley increased its holdings in Materials Select Sector SPDR Fund by 17.5% during the 3rd quarter. Morgan Stanley now owns 4,252,723 shares of the exchange traded fund’s stock valued at $334,051,000 after acquiring an additional 632,847 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Materials Select Sector SPDR Fund by 220.8% during the 1st quarter. BNP Paribas Financial Markets now owns 1,610,944 shares of the exchange traded fund’s stock worth $149,641,000 after purchasing an additional 1,108,720 shares in the last quarter. Factory Mutual Insurance Co. raised its position in shares of Materials Select Sector SPDR Fund by 68.2% during the 4th quarter. Factory Mutual Insurance Co. now owns 905,300 shares of the exchange traded fund’s stock worth $77,439,000 after purchasing an additional 367,000 shares during the last quarter. Royal Bank of Canada raised its position in shares of Materials Select Sector SPDR Fund by 114.5% during the 3rd quarter. Royal Bank of Canada now owns 604,287 shares of the exchange traded fund’s stock worth $47,467,000 after purchasing an additional 322,597 shares during the last quarter. Finally, Commerce Bank lifted its stake in Materials Select Sector SPDR Fund by 0.6% in the 1st quarter. Commerce Bank now owns 522,068 shares of the exchange traded fund’s stock valued at $48,495,000 after buying an additional 3,018 shares in the last quarter.

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.