Materials Select Sector SPDR Fund (NYSEARCA:XLB) Stock Crosses Above 50-Day Moving Average – Time to Sell?

Materials Select Sector SPDR Fund (NYSEARCA:XLB)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $50.97 and traded as high as $50.97. Materials Select Sector SPDR Fund shares last traded at $50.29, with a volume of 10,924,351 shares.

Materials Select Sector SPDR Fund Trading Down 1.0%

The company has a market cap of $8.36 billion, a P/E ratio of 24.55 and a beta of 0.92. The business’s 50 day simple moving average is $50.97 and its 200 day simple moving average is $50.78.

Institutional Trading of Materials Select Sector SPDR Fund

Several institutional investors and hedge funds have recently modified their holdings of XLB. Bank of America Corp DE lifted its stake in shares of Materials Select Sector SPDR Fund by 1.0% during the 1st quarter. Bank of America Corp DE now owns 9,756,100 shares of the exchange traded fund’s stock valued at $487,512,000 after buying an additional 93,372 shares in the last quarter. Morgan Stanley increased its stake in Materials Select Sector SPDR Fund by 112.6% in the 4th quarter. Morgan Stanley now owns 7,499,014 shares of the exchange traded fund’s stock worth $340,080,000 after buying an additional 3,972,016 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Materials Select Sector SPDR Fund by 99.7% in the 4th 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 raised its holdings 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 valued at $122,040,000 after acquiring an additional 1,657,671 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in Materials Select Sector SPDR Fund by 97.4% during the fourth quarter. Wells Fargo & Company MN now owns 2,407,870 shares of the exchange traded fund’s stock valued at $109,197,000 after acquiring an additional 1,188,168 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