SPDR S&P Homebuilders ETF (NYSEARCA:XHB) Stock Breaks Above 200-Day Moving Average – Here’s Why

Shares of SPDR S&P Homebuilders ETF (NYSEARCA:XHB) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $105.09 and traded as high as $108.05. SPDR S&P Homebuilders ETF shares last traded at $107.52, with a volume of 4,176,275 shares.

SPDR S&P Homebuilders ETF Trading Up 5.4%

The firm has a market capitalization of $1.65 billion, a PE ratio of 11.47 and a beta of 1.23. The company has a fifty day moving average price of $98.51 and a two-hundred day moving average price of $105.09.

Hedge Funds Weigh In On SPDR S&P Homebuilders ETF

Several institutional investors have recently added to or reduced their stakes in XHB. Annex Advisory Services LLC acquired a new stake in shares of SPDR S&P Homebuilders ETF during the second quarter worth $66,305,000. Passaic Partners LLC raised its position in SPDR S&P Homebuilders ETF by 89.6% in the second quarter. Passaic Partners LLC now owns 166,897 shares of the exchange traded fund’s stock worth $19,287,000 after acquiring an additional 78,852 shares in the last quarter. Greenland Capital Management LP purchased a new stake in shares of SPDR S&P Homebuilders ETF during the 2nd quarter worth $17,334,000. Allspring Global Investments Holdings LLC grew its position in SPDR S&P Homebuilders ETF by 28,444.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 91,343 shares of the exchange traded fund’s stock worth $8,840,000 after buying an additional 91,023 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of SPDR S&P Homebuilders ETF by 312.4% in the second quarter. Envestnet Asset Management Inc. now owns 74,979 shares of the exchange traded fund’s stock valued at $8,665,000 after buying an additional 56,800 shares in the last quarter.

SPDR S&P Homebuilders ETF Company Profile

SPDR S&P Homebuilders ETF (the Fund) seeks to closely match the returns and characteristics of the S&P Homebuilders Select Industry Index. The S&P Homebuilders Select Industry Index represents the homebuilding sub-industry portion of the S&P Total Markets Index. The S&P TMI tracks all the United States common stocks listed on the New York Stock Exchange, American Stock Exchange, National Association of Securities Dealers Automated Quotation (NASDAQ) National Market and NASDAQ Small Cap exchanges.