Technology Select Sector SPDR Fund (NYSEARCA:XLK) Share Price Passes Above Fifty Day Moving Average – Here’s What Happened

Technology Select Sector SPDR Fund (NYSEARCA:XLK)’s stock price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $177.67 and traded as high as $185.66. Technology Select Sector SPDR Fund shares last traded at $185.41, with a volume of 11,829,368 shares trading hands.

Technology Select Sector SPDR Fund Price Performance

The company has a market cap of $120.75 billion, a price-to-earnings ratio of 35.59 and a beta of 1.33. The company’s 50-day simple moving average is $178.39 and its 200-day simple moving average is $154.72.

Hedge Funds Weigh In On Technology Select Sector SPDR Fund

Several institutional investors and hedge funds have recently made changes to their positions in XLK. Bank of America Corp DE grew its holdings in Technology Select Sector SPDR Fund by 97.7% during the 4th quarter. Bank of America Corp DE now owns 23,654,593 shares of the exchange traded fund’s stock worth $3,405,552,000 after acquiring an additional 11,689,331 shares in the last quarter. Morgan Stanley raised its stake in shares of Technology Select Sector SPDR Fund by 83.7% in the 4th quarter. Morgan Stanley now owns 19,348,529 shares of the exchange traded fund’s stock valued at $2,785,608,000 after purchasing an additional 8,818,215 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Technology Select Sector SPDR Fund by 96.3% in the 4th quarter. Focus Partners Wealth now owns 13,123,017 shares of the exchange traded fund’s stock valued at $1,889,321,000 after purchasing an additional 6,437,393 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of Technology Select Sector SPDR Fund by 99.4% during the fourth quarter. Raymond James Financial Inc. now owns 8,118,848 shares of the exchange traded fund’s stock worth $1,168,870,000 after purchasing an additional 4,047,225 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Technology Select Sector SPDR Fund by 163.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,053,446 shares of the exchange traded fund’s stock worth $727,545,000 after purchasing an additional 3,135,920 shares during the last quarter.

Technology Select Sector SPDR Fund Company Profile

The Technology Select Sector SPDR Fund is an exchange-traded fund that aims to track, before fees and expenses, the performance of the Technology Select Sector Index. The index is designed to represent the technology companies within the S&P 500 and provides concentrated exposure to industries such as software, semiconductors, IT services, communications equipment, and technology hardware.