Technology Select Sector SPDR Fund (NYSEARCA:XLK) Share Price Passes Below 200 Day Moving Average – Here’s Why

Technology Select Sector SPDR Fund (NYSEARCA:XLK)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $229.72 and traded as low as $229.23. Technology Select Sector SPDR Fund shares last traded at $231.00, with a volume of 3,812,966 shares trading hands.

Technology Select Sector SPDR Fund Price Performance

The company has a market cap of $72.71 billion, a PE ratio of 36.68 and a beta of 1.13. The firm’s 50 day moving average is $234.85 and its 200 day moving average is $229.72.

Hedge Funds Weigh In On Technology Select Sector SPDR Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Minot DeBlois Advisors LLC bought a new stake in Technology Select Sector SPDR Fund during the 4th quarter valued at $33,000. Runnymede Capital Advisors Inc. bought a new position in Technology Select Sector SPDR Fund in the 4th quarter worth $35,000. Cedar Mountain Advisors LLC raised its holdings in Technology Select Sector SPDR Fund by 201.9% in the 4th quarter. Cedar Mountain Advisors LLC now owns 160 shares of the exchange traded fund’s stock worth $37,000 after purchasing an additional 107 shares in the last quarter. Vision Financial Markets LLC bought a new position in Technology Select Sector SPDR Fund in the 4th quarter worth $38,000. Finally, Rakuten Securities Inc. raised its holdings in Technology Select Sector SPDR Fund by 66.7% in the 4th quarter. Rakuten Securities Inc. now owns 180 shares of the exchange traded fund’s stock worth $42,000 after purchasing an additional 72 shares in 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.