Technology Select Sector SPDR Fund (NYSEARCA:XLK) Stock Price Passes Above 50-Day Moving Average – Time to Sell?

Technology Select Sector SPDR Fund (NYSEARCA:XLK)’s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $231.96 and traded as high as $238.91. Technology Select Sector SPDR Fund shares last traded at $238.03, with a volume of 3,600,933 shares trading hands.

Technology Select Sector SPDR Fund Trading Up 0.4 %

The business’s 50-day simple moving average is $232.54 and its 200-day simple moving average is $224.47. The company has a market capitalization of $75.04 billion, a PE ratio of 36.81 and a beta of 1.35.

Institutional Investors Weigh In On Technology Select Sector SPDR Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in XLK. Strategic Financial Concepts LLC grew its holdings in Technology Select Sector SPDR Fund by 19,299.4% in the second quarter. Strategic Financial Concepts LLC now owns 1,111,975 shares of the exchange traded fund’s stock valued at $251,562,000 after purchasing an additional 1,106,243 shares during the period. Envestnet Asset Management Inc. raised its position in Technology Select Sector SPDR Fund by 8.7% during the second quarter. Envestnet Asset Management Inc. now owns 5,431,458 shares of the exchange traded fund’s stock worth $1,228,759,000 after acquiring an additional 434,334 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Technology Select Sector SPDR Fund by 58.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 976,843 shares of the exchange traded fund’s stock valued at $220,532,000 after purchasing an additional 359,197 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Technology Select Sector SPDR Fund by 226.6% during the third quarter. SG Americas Securities LLC now owns 497,665 shares of the exchange traded fund’s stock worth $112,353,000 after purchasing an additional 345,272 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Technology Select Sector SPDR Fund by 7.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,212,054 shares of the exchange traded fund’s stock worth $955,478,000 after purchasing an additional 275,102 shares during the last quarter.

Technology Select Sector SPDR Fund Company Profile

Sector SPDR Trust SBI Interest, formerly Technology Select Sector SPDR Fund, seeks to provide investment results that correspond to the price and yield performance of the Technology Select Sector of the S&P 500 Index (the Index). The Index includes companies primarily involved in industries, such as information technology (IT) consulting, semiconductor equipment and products, computers and peripherals, diversified telecommunication services and wireless telecommunication services.It utilizes a passive or indexing investment approach to invest in a portfolio of stocks that seek to replicate the Index.