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

Shares of Technology Select Sector SPDR Fund (NYSEARCA:XLK) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $141.26 and traded as low as $138.97. Technology Select Sector SPDR Fund shares last traded at $140.88, with a volume of 14,939,843 shares trading hands.

Technology Select Sector SPDR Fund Trading Up 0.5%

The company has a fifty day moving average price of $143.75 and a two-hundred day moving average price of $141.34. The firm has a market capitalization of $89.72 billion, a price-to-earnings ratio of 35.59 and a beta of 1.21.

Hedge Funds Weigh In On Technology Select Sector SPDR Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XLK. Bank of America Corp DE grew its holdings in shares of Technology Select Sector SPDR Fund by 97.7% in the fourth quarter. Bank of America Corp DE now owns 23,654,593 shares of the exchange traded fund’s stock valued at $3,405,552,000 after purchasing an additional 11,689,331 shares during the period. 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 last quarter. Focus Partners Wealth boosted its holdings in Technology Select Sector SPDR Fund by 96.3% in 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 during the last quarter. Raymond James Financial Inc. grew its stake in shares of Technology Select Sector SPDR Fund by 99.4% in 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 buying an additional 4,047,225 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Technology Select Sector SPDR Fund by 9.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 5,534,255 shares of the exchange traded fund’s stock worth $1,401,439,000 after buying an additional 471,344 shares during the last quarter.

About Technology Select Sector SPDR Fund

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.