Materials Select Sector SPDR Fund (NYSEARCA:XLB) Stock Passes Below 200 Day Moving Average of $56.60

Materials Select Sector SPDR Fund (NYSEARCA:XLB) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $56.60 and traded as low as $58.81. Materials Select Sector SPDR Fund shares last traded at $59.23, with a volume of 330,491 shares trading hands.

The company’s 50-day moving average is $57.07 and its two-hundred day moving average is $56.60.

A number of hedge funds and other institutional investors have recently made changes to their positions in XLB. Meridian Wealth Management LLC bought a new position in Materials Select Sector SPDR Fund in the 1st quarter valued at about $54,000. Full Sail Capital LLC lifted its position in shares of Materials Select Sector SPDR Fund by 30.0% during the 1st quarter. Full Sail Capital LLC now owns 46,793 shares of the exchange traded fund’s stock worth $2,597,000 after buying an additional 10,788 shares in the last quarter. Rehmann Capital Advisory Group lifted its position in shares of Materials Select Sector SPDR Fund by 31.6% during the 1st quarter. Rehmann Capital Advisory Group now owns 1,705 shares of the exchange traded fund’s stock worth $95,000 after buying an additional 409 shares in the last quarter. GYL Financial Synergies LLC bought a new position in shares of Materials Select Sector SPDR Fund during the 1st quarter worth approximately $262,000. Finally, Cerebellum GP LLC lifted its position in shares of Materials Select Sector SPDR Fund by 16.1% during the 1st quarter. Cerebellum GP LLC now owns 6,123 shares of the exchange traded fund’s stock worth $340,000 after buying an additional 847 shares in the last quarter.

About Materials Select Sector SPDR Fund (NYSEARCA:XLB)

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.

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