Technology Select Sector SPDR Fund (NYSEARCA:XLK) Sets New 1-Year High – What’s Next?

Technology Select Sector SPDR Fund (NYSEARCA:XLK)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $170.08 and last traded at $170.03, with a volume of 11290874 shares traded. The stock had previously closed at $165.63.

Technology Select Sector SPDR Fund Trading Up 2.7%

The stock has a market capitalization of $110.22 billion, a P/E ratio of 35.59 and a beta of 1.29. The company has a fifty day simple moving average of $143.77 and a two-hundred day simple moving average of $144.07.

Institutional Trading of Technology Select Sector SPDR Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sachetta LLC grew its position in shares of 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 during the period. JPL Wealth Management LLC acquired a new position in shares of Technology Select Sector SPDR Fund during the 3rd quarter worth about $28,000. Federated Hermes Inc. acquired a new position in shares of Technology Select Sector SPDR Fund during the 3rd quarter worth about $30,000. Orion Capital Management LLC grew its position in shares of Technology Select Sector SPDR Fund by 481.8% during the 3rd quarter. Orion Capital Management LLC now owns 128 shares of the exchange traded fund’s stock worth $36,000 after buying an additional 106 shares during the period. Finally, Millstone Evans Group LLC grew its position in shares of Technology Select Sector SPDR Fund by 37.6% during the 3rd quarter. Millstone Evans Group LLC now owns 150 shares of the exchange traded fund’s stock worth $42,000 after buying an additional 41 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.