Materials Select Sector SPDR Fund (NYSEARCA:XLB) Shares Cross Above 50 Day Moving Average of $58.16

Materials Select Sector SPDR Fund (NYSEARCA:XLB) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $58.16 and traded as high as $60.44. Materials Select Sector SPDR Fund shares last traded at $60.16, with a volume of 274,990 shares trading hands.

The stock’s 50-day moving average price is $58.16 and its 200 day moving average price is $57.25.

Several institutional investors and hedge funds have recently made changes to their positions in XLB. Roble Belko & Company Inc bought a new stake in Materials Select Sector SPDR Fund in the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. bought a new stake in Materials Select Sector SPDR Fund in the third quarter valued at about $31,000. AdvisorNet Financial Inc increased its stake in Materials Select Sector SPDR Fund by 110.0% in the second quarter. AdvisorNet Financial Inc now owns 632 shares of the exchange traded fund’s stock valued at $37,000 after acquiring an additional 331 shares during the period. Glen Harbor Capital Management LLC increased its stake in Materials Select Sector SPDR Fund by 5,100.0% in the second quarter. Glen Harbor Capital Management LLC now owns 832 shares of the exchange traded fund’s stock valued at $49,000 after acquiring an additional 816 shares during the period. Finally, Bridger Capital Management LLC bought a new stake in Materials Select Sector SPDR Fund in the third quarter valued at about $51,000.

Materials Select Sector SPDR Fund Company Profile (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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