Technology Select Sector SPDR Fund Sees Unusually Large Options Volume (NYSEARCA:XLK)

Technology Select Sector SPDR Fund (NYSEARCA:XLKGet Rating) was the target of some unusual options trading activity on Thursday. Investors purchased 24,785 put options on the company. This is an increase of 44% compared to the average daily volume of 17,197 put options.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of XLK. SG Americas Securities LLC boosted its position in shares of Technology Select Sector SPDR Fund by 102.3% during the 1st quarter. SG Americas Securities LLC now owns 73,294 shares of the exchange traded fund’s stock valued at $11,649,000 after acquiring an additional 3,310,174 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Technology Select Sector SPDR Fund by 547.4% during the 2nd quarter. Prudential Financial Inc. now owns 2,806,112 shares of the exchange traded fund’s stock valued at $361,525,000 after acquiring an additional 2,372,700 shares during the last quarter. Rezny Wealth Management Inc. lifted its position in Technology Select Sector SPDR Fund by 2,552.2% in the second quarter. Rezny Wealth Management Inc. now owns 1,521,448 shares of the exchange traded fund’s stock worth $205,474,000 after buying an additional 1,464,083 shares during the last quarter. Maven Securities LTD lifted its position in Technology Select Sector SPDR Fund by 100.6% in the fourth quarter. Maven Securities LTD now owns 6,737 shares of the exchange traded fund’s stock worth $1,171,000 after buying an additional 1,104,349 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its position in Technology Select Sector SPDR Fund by 3,010.6% in the first quarter. 1832 Asset Management L.P. now owns 1,079,175 shares of the exchange traded fund’s stock worth $169,156,000 after buying an additional 1,044,482 shares during the last quarter.

Analysts Set New Price Targets

Separately, Truist Financial raised shares of Technology Select Sector SPDR Fund from an “underweight” rating to a “neutral” rating in a report on Thursday, July 21st.

Technology Select Sector SPDR Fund Trading Down 1.0 %

NYSEARCA XLK opened at $125.38 on Friday. Technology Select Sector SPDR Fund has a one year low of $122.46 and a one year high of $177.04. The stock has a 50 day moving average price of $139.25 and a 200-day moving average price of $140.42.

Technology Select Sector SPDR Fund Company Profile

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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.

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