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

Technology Select Sector SPDR Fund (NYSEARCA:XLK) shares crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $169.91 and traded as low as $162.14. Technology Select Sector SPDR Fund shares last traded at $162.38, with a volume of 33,239,932 shares.

Technology Select Sector SPDR Fund Price Performance

The firm has a market cap of $109.19 billion, a PE ratio of 35.59 and a beta of 1.36. The firm has a 50-day simple moving average of $188.45 and a 200 day simple moving average of $170.02.

Hedge Funds Weigh In On Technology Select Sector SPDR Fund

Hedge funds have recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in Technology Select Sector SPDR Fund by 4.9% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 10,517 shares of the exchange traded fund’s stock valued at $2,004,000 after acquiring an additional 489 shares during the period. Wisconsin Wealth Advisors LLC boosted its position in Technology Select Sector SPDR Fund by 4.5% in the second quarter. Wisconsin Wealth Advisors LLC now owns 2,034 shares of the exchange traded fund’s stock worth $388,000 after purchasing an additional 88 shares during the last quarter. Pine Valley Investments Ltd Liability Co boosted its position in Technology Select Sector SPDR Fund by 14.7% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 69,184 shares of the exchange traded fund’s stock worth $9,195,000 after purchasing an additional 8,859 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Technology Select Sector SPDR Fund by 0.6% during the 1st quarter. First Trust Advisors LP now owns 105,376 shares of the exchange traded fund’s stock valued at $14,005,000 after purchasing an additional 631 shares during the period. Finally, Kensington Investment Counsel LLC grew its stake in shares of Technology Select Sector SPDR Fund by 68.0% during the 1st quarter. Kensington Investment Counsel LLC now owns 6,641 shares of the exchange traded fund’s stock valued at $883,000 after purchasing an additional 2,687 shares during the period.

Technology Select Sector SPDR Fund Company Profile

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.