Technology Select Sector SPDR Fund (NYSEARCA:XLK) Sets New 12-Month High – Time to Buy?

Technology Select Sector SPDR Fund (NYSEARCA:XLK) shares reached a new 52-week high on Wednesday . The company traded as high as $258.80 and last traded at $257.90, with a volume of 789606 shares. The stock had previously closed at $256.29.

Technology Select Sector SPDR Fund Stock Performance

The company has a market cap of $81.32 billion, a P/E ratio of 35.59 and a beta of 1.14. The firm’s 50-day simple moving average is $237.93 and its 200 day simple moving average is $226.34.

Institutional Investors Weigh In On Technology Select Sector SPDR Fund

Several institutional investors have recently bought and sold shares of XLK. Rise Advisors LLC bought a new position in shares of Technology Select Sector SPDR Fund in the second quarter worth about $29,000. Richards Merrill & Peterson Inc. acquired a new stake in Technology Select Sector SPDR Fund in the first quarter valued at approximately $32,000. Minot DeBlois Advisors LLC acquired a new stake in shares of Technology Select Sector SPDR Fund in the 4th quarter worth about $33,000. Runnymede Capital Advisors Inc. bought a new position in Technology Select Sector SPDR Fund during the 4th quarter valued at $35,000. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Technology Select Sector SPDR Fund during the 1st quarter worth approximately $38,000.

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.