Technology Select Sector SPDR Fund (NYSEARCA:XLK) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

Technology Select Sector SPDR Fund (NYSEARCA:XLK) shares 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.

Technology Select Sector SPDR Fund Stock Performance

The company’s 50 day moving average price is $141.52 and its 200-day moving average price is $142.25. The stock has a market cap of $86.16 billion, a P/E ratio of 35.59 and a beta of 1.21.

Hedge Funds Weigh In On Technology Select Sector SPDR Fund

Hedge funds have recently modified their holdings of the company. Brighton Jones LLC raised its stake in shares of Technology Select Sector SPDR Fund by 21.6% in the fourth quarter. Brighton Jones LLC now owns 9,477 shares of the exchange traded fund’s stock valued at $2,204,000 after buying an additional 1,684 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of Technology Select Sector SPDR Fund in the fourth quarter worth about $204,000. Bison Wealth LLC raised its position in shares of Technology Select Sector SPDR Fund by 9.0% in the fourth quarter. Bison Wealth LLC now owns 4,673 shares of the exchange traded fund’s stock valued at $1,087,000 after purchasing an additional 385 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Technology Select Sector SPDR Fund by 61.9% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,603,396 shares of the exchange traded fund’s stock valued at $659,258,000 after buying an additional 995,444 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. purchased a new stake in shares of Technology Select Sector SPDR Fund during the 2nd quarter valued at approximately $3,678,000.

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.