Materials Select Sector SPDR Fund (NYSEARCA:XLB) Share Price Breaks Below Two Hundred Day Moving Average – Time to Sell?

Materials Select Sector SPDR Fund (NYSEARCA:XLB) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $51.15 and traded as low as $49.57. Materials Select Sector SPDR Fund shares last traded at $49.68, with a volume of 12,806,547 shares trading hands.

Materials Select Sector SPDR Fund Trading Up 0.2%

The stock’s 50-day moving average is $51.74 and its 200-day moving average is $51.14. The stock has a market cap of $8.12 billion, a P/E ratio of 24.55 and a beta of 0.92.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Materials Select Sector SPDR Fund during the 2nd quarter valued at $453,000. Envestnet Asset Management Inc. boosted its stake in 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 buying an additional 4,278,731 shares in the last quarter. State Street Corp grew its holdings in Materials Select Sector SPDR Fund by 32.6% during the second quarter. State Street Corp now owns 144,538 shares of the exchange traded fund’s stock worth $7,347,000 after acquiring an additional 35,517 shares during the period. Miramontes Capital LLC acquired a new position in Materials Select Sector SPDR Fund during the second quarter worth about $234,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Materials Select Sector SPDR Fund by 88.9% during the second quarter. The Manufacturers Life Insurance Company now owns 61,315 shares of the exchange traded fund’s stock worth $3,117,000 after acquiring an additional 28,848 shares during the period. 75.78% of the stock is currently owned by institutional investors.

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