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

Technology Select Sector SPDR Fund (NYSEARCA:XLK)’s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $181.33 and traded as high as $181.63. Technology Select Sector SPDR Fund shares last traded at $181.40, with a volume of 10,384,045 shares.

Technology Select Sector SPDR Fund Stock Performance

The business’s fifty day moving average price is $181.33 and its two-hundred day moving average price is $156.36. The stock has a market capitalization of $117.97 billion, a P/E ratio of 35.59 and a beta of 1.33.

Institutional Investors Weigh In On Technology Select Sector SPDR Fund

Large investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in Technology Select Sector SPDR Fund by 21.6% during the 4th quarter. Brighton Jones LLC now owns 9,477 shares of the exchange traded fund’s stock valued at $2,204,000 after buying an additional 1,684 shares during the period. Revolve Wealth Partners LLC purchased a new position in Technology Select Sector SPDR Fund during the fourth quarter worth $204,000. Bison Wealth LLC increased its position in Technology Select Sector SPDR Fund by 9.0% during the fourth quarter. Bison Wealth LLC now owns 4,673 shares of the exchange traded fund’s stock valued at $1,087,000 after acquiring an additional 385 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in Technology Select Sector SPDR Fund by 61.9% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,603,396 shares of the exchange traded fund’s stock valued at $659,258,000 after acquiring an additional 995,444 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Technology Select Sector SPDR Fund by 27.8% in the second quarter. Russell Investments Group Ltd. now owns 4,635 shares of the exchange traded fund’s stock valued at $1,174,000 after acquiring an additional 1,009 shares during the period.

About Technology Select Sector SPDR Fund

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.