Technology Select Sector SPDR Fund (NYSEARCA:XLK) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

Shares of Technology Select Sector SPDR Fund (NYSEARCA:XLK) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $142.36 and traded as low as $129.58. Technology Select Sector SPDR Fund shares last traded at $129.92, with a volume of 15,883,191 shares.

Technology Select Sector SPDR Fund Trading Down 1.9%

The company has a 50 day simple moving average of $140.38 and a 200-day simple moving average of $142.36. The stock has a market cap of $82.74 billion, a price-to-earnings ratio of 35.59 and a beta of 1.21.

Technology Select Sector SPDR Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Monday, March 23rd were issued a dividend of $0.1675 per share. The ex-dividend date was Monday, March 23rd. This represents a $0.67 dividend on an annualized basis and a dividend yield of 0.5%.

Institutional Investors Weigh In On Technology Select Sector SPDR Fund

Several institutional investors have recently bought and sold shares of XLK. Evermay Wealth Management LLC boosted its holdings in Technology Select Sector SPDR Fund by 74.0% during the fourth quarter. Evermay Wealth Management LLC now owns 174 shares of the exchange traded fund’s stock worth $25,000 after purchasing an additional 74 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in Technology Select Sector SPDR Fund in the 4th quarter valued at $26,000. Operose Advisors LLC acquired a new stake in Technology Select Sector SPDR Fund in the 4th quarter valued at $26,000. AG Campbell Advisory LLC bought a new stake in Technology Select Sector SPDR Fund during the 4th quarter worth about $27,000. Finally, Sachetta LLC lifted its position in Technology Select Sector SPDR Fund by 102.0% during the 3rd quarter. Sachetta LLC now owns 101 shares of the exchange traded fund’s stock worth $28,000 after buying an additional 51 shares in the last quarter.

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.