Technology Select Sector SPDR Fund (NYSEARCA:XLK) Stock Crosses Below 200-Day Moving Average – Here’s Why

Technology Select Sector SPDR Fund (NYSEARCA:XLK)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $142.22 and traded as low as $135.44. Technology Select Sector SPDR Fund shares last traded at $138.43, with a volume of 18,081,604 shares trading hands.

Technology Select Sector SPDR Fund Trading Up 0.3%

The business has a fifty day moving average of $141.73 and a 200-day moving average of $142.22. The firm has a market cap of $88.16 billion, a PE ratio of 35.59 and a beta of 1.21.

Institutional Investors Weigh In On Technology Select Sector SPDR Fund

A number of institutional investors and hedge funds have recently modified their holdings of XLK. Bank of America Corp DE lifted its stake in Technology Select Sector SPDR Fund by 97.7% in 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 purchasing an additional 11,689,331 shares in the last quarter. Morgan Stanley boosted its holdings in 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 during the period. Focus Partners Wealth grew its position in shares of Technology Select Sector SPDR Fund by 96.3% during 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. grew its position in shares of Technology Select Sector SPDR Fund by 99.4% during the 4th quarter. Raymond James Financial Inc. now owns 8,118,848 shares of the exchange traded fund’s stock valued at $1,168,870,000 after purchasing an additional 4,047,225 shares in the last quarter. Finally, Main Management ETF Advisors LLC increased its holdings in shares of Technology Select Sector SPDR Fund by 105.1% in the fourth quarter. Main Management ETF Advisors LLC now owns 5,506,430 shares of the exchange traded fund’s stock worth $792,761,000 after purchasing an additional 2,822,232 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.