Technology Select Sector SPDR Fund (NYSEARCA:XLK) Shares Pass Above 50 Day Moving Average – What’s Next?

Technology Select Sector SPDR Fund (NYSEARCA:XLK)’s stock price passed 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 traded.

Technology Select Sector SPDR Fund Stock Up 0.4 %

The stock has a market capitalization of $75.04 billion, a price-to-earnings ratio of 36.81 and a beta of 1.35. The business’s 50-day moving average is $232.54 and its two-hundred day moving average is $224.47.

Hedge Funds Weigh In On Technology Select Sector SPDR Fund

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. raised its position in shares of Technology Select Sector SPDR Fund by 14.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 975,587 shares of the exchange traded fund’s stock valued at $220,707,000 after buying an additional 123,516 shares during the period. AAFMAA Wealth Management & Trust LLC purchased a new stake in Technology Select Sector SPDR Fund in the second quarter valued at $2,386,000. Apollon Financial LLC lifted its stake in shares of Technology Select Sector SPDR Fund by 3.1% in the 2nd quarter. Apollon Financial LLC now owns 58,501 shares of the exchange traded fund’s stock valued at $13,235,000 after purchasing an additional 1,739 shares during the last quarter. Platte River Wealth Advisors LLC grew its holdings in shares of Technology Select Sector SPDR Fund by 4.3% during the 2nd quarter. Platte River Wealth Advisors LLC now owns 4,798 shares of the exchange traded fund’s stock worth $1,085,000 after purchasing an additional 196 shares during the period. Finally, Long Run Wealth Advisors LLC increased its position in shares of Technology Select Sector SPDR Fund by 14.4% during the 2nd quarter. Long Run Wealth Advisors LLC now owns 105,890 shares of the exchange traded fund’s stock worth $23,956,000 after purchasing an additional 13,300 shares during 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.