Materials Select Sector SPDR Fund (NYSEARCA:XLB) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

Materials Select Sector SPDR Fund (NYSEARCA:XLB)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $90.38 and traded as low as $84.07. Materials Select Sector SPDR Fund shares last traded at $85.98, with a volume of 4,440,914 shares trading hands.

Materials Select Sector SPDR Fund Stock Performance

The firm has a market cap of $5.40 billion, a P/E ratio of 25.16 and a beta of 1.09. The company’s 50 day moving average is $87.95 and its 200 day moving average is $90.38.

Materials Select Sector SPDR Fund Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, March 26th. Stockholders of record on Monday, March 24th were paid a dividend of $0.4068 per share. The ex-dividend date was Monday, March 24th.

Hedge Funds Weigh In On Materials Select Sector SPDR Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its position in shares of Materials Select Sector SPDR Fund by 2.0% during the third quarter. FMR LLC now owns 42,709 shares of the exchange traded fund’s stock worth $4,116,000 after acquiring an additional 846 shares during the last quarter. CreativeOne Wealth LLC acquired a new stake in Materials Select Sector SPDR Fund during the 3rd quarter valued at approximately $268,000. Atom Investors LP raised its holdings in Materials Select Sector SPDR Fund by 67.8% during the 3rd quarter. Atom Investors LP now owns 43,427 shares of the exchange traded fund’s stock worth $4,185,000 after purchasing an additional 17,554 shares during the last quarter. Benjamin Edwards Inc. acquired a new position in shares of Materials Select Sector SPDR Fund in the 3rd quarter worth approximately $3,523,000. Finally, Concentric Capital Strategies LP bought a new stake in shares of Materials Select Sector SPDR Fund in the 3rd quarter valued at $474,000.

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.