Materials Select Sector SPDR Fund (NYSEARCA:XLB) Stock Price Crosses Above 50 Day Moving Average – Should You Sell?

Materials Select Sector SPDR Fund (NYSEARCA:XLB) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $51.31 and traded as high as $51.40. Materials Select Sector SPDR Fund shares last traded at $50.66, with a volume of 12,708,211 shares trading hands.

Materials Select Sector SPDR Fund Stock Down 1.8%

The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of 24.55 and a beta of 0.91. The business has a 50-day moving average of $51.31 and a two-hundred day moving average of $50.09.

Institutional Trading of Materials Select Sector SPDR Fund

Hedge funds have recently modified their holdings of the company. Morgan Stanley raised its stake in shares of Materials Select Sector SPDR Fund by 112.6% in the fourth quarter. Morgan Stanley now owns 7,499,014 shares of the exchange traded fund’s stock valued at $340,080,000 after purchasing an additional 3,972,016 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Materials Select Sector SPDR Fund by 99.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,210,960 shares of the exchange traded fund’s stock worth $236,317,000 after buying an additional 2,601,880 shares in the last quarter. Royal Bank of Canada boosted its stake in Materials Select Sector SPDR Fund by 211.3% during 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 in the last quarter. Main Management ETF Advisors LLC acquired a new stake in Materials Select Sector SPDR Fund during the fourth quarter worth $72,742,000. Finally, Wells Fargo & Company MN increased its holdings in Materials Select Sector SPDR Fund by 97.4% in the 4th quarter. Wells Fargo & Company MN now owns 2,407,870 shares of the exchange traded fund’s stock valued at $109,197,000 after buying an additional 1,188,168 shares during the period. Institutional investors own 75.78% of the company’s stock.

About Materials Select Sector SPDR Fund

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