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

Technology Select Sector SPDR Fund (NYSEARCA:XLK)’s stock price crossed 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 trading hands.

Technology Select Sector SPDR Fund Stock Up 0.3%

The company has a 50-day moving average of $141.73 and a 200 day moving average of $142.22. The firm has a market capitalization of $88.16 billion, a PE ratio of 35.59 and a beta of 1.21.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of XLK. Exencial Wealth Advisors LLC raised its stake in shares of Technology Select Sector SPDR Fund by 0.4% during the third quarter. Exencial Wealth Advisors LLC now owns 9,207 shares of the exchange traded fund’s stock valued at $2,595,000 after acquiring an additional 36 shares during the last quarter. Lodestone Wealth Management LLC grew its stake in shares of Technology Select Sector SPDR Fund by 1.5% in the second quarter. Lodestone Wealth Management LLC now owns 2,525 shares of the exchange traded fund’s stock worth $639,000 after purchasing an additional 38 shares during the last quarter. Rakuten Securities Inc. grew its stake in shares of Technology Select Sector SPDR Fund by 30.2% in the second quarter. Rakuten Securities Inc. now owns 164 shares of the exchange traded fund’s stock worth $42,000 after purchasing an additional 38 shares during the last quarter. Goelzer Investment Management Inc. increased its holdings in Technology Select Sector SPDR Fund by 1.6% in the third quarter. Goelzer Investment Management Inc. now owns 2,480 shares of the exchange traded fund’s stock valued at $699,000 after purchasing an additional 38 shares during the period. Finally, Finemark National Bank & Trust increased its holdings in Technology Select Sector SPDR Fund by 0.3% in the third quarter. Finemark National Bank & Trust now owns 11,643 shares of the exchange traded fund’s stock valued at $3,282,000 after purchasing an additional 38 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.