Technology Select Sector SPDR Fund (NYSEARCA:XLK) Share Price Passes Above Fifty Day Moving Average – What’s Next?

Technology Select Sector SPDR Fund (NYSEARCA:XLK)’s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $144.21 and traded as high as $146.95. Technology Select Sector SPDR Fund shares last traded at $145.62, with a volume of 14,154,876 shares trading hands.

Technology Select Sector SPDR Fund Trading Up 0.1%

The firm’s fifty day moving average price is $144.21 and its 200-day moving average price is $139.27. The firm has a market cap of $93.61 billion, a price-to-earnings ratio of 35.59 and a beta of 1.21.

Institutional Trading of Technology Select Sector SPDR Fund

Several institutional investors and hedge funds have recently made changes to their positions in XLK. Focus Partners Wealth boosted its stake in Technology Select Sector SPDR Fund by 309.3% during the 3rd quarter. Focus Partners Wealth now owns 6,685,624 shares of the exchange traded fund’s stock worth $1,884,413,000 after purchasing an additional 5,052,145 shares during the period. Laurel Wealth Advisors LLC raised its holdings in shares of Technology Select Sector SPDR Fund by 27,205.7% in the second quarter. Laurel Wealth Advisors LLC now owns 4,705,862 shares of the exchange traded fund’s stock valued at $1,191,665,000 after buying an additional 4,688,628 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Technology Select Sector SPDR Fund by 91.4% during the second quarter. JPMorgan Chase & Co. now owns 3,510,145 shares of the exchange traded fund’s stock worth $888,874,000 after buying an additional 1,675,887 shares during the period. PGIM Custom Harvest LLC purchased a new position in shares of Technology Select Sector SPDR Fund during the third quarter worth about $466,954,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in Technology Select Sector SPDR Fund by 61.9% in 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 acquiring an additional 995,444 shares during the period.

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.