Technology Select Sector SPDR Fund (NYSEARCA:XLK) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Technology Select Sector SPDR Fund (NYSEARCA:XLK) shares passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $234.25 and traded as high as $236.34. Technology Select Sector SPDR Fund shares last traded at $234.47, with a volume of 3,970,920 shares changing hands.

Technology Select Sector SPDR Fund Stock Down 1.3 %

The stock has a 50-day moving average price of $234.25 and a 200 day moving average price of $226.34. The firm has a market capitalization of $73.60 billion, a price-to-earnings ratio of 36.81 and a beta of 1.35.

Hedge Funds Weigh In On Technology Select Sector SPDR Fund

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

About Technology Select Sector SPDR Fund

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.