Technology Select Sector SPDR Fund (NYSEARCA:XLK) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

Technology Select Sector SPDR Fund (NYSEARCA:XLK) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $142.36 and traded as low as $129.58. Technology Select Sector SPDR Fund shares last traded at $129.92, with a volume of 15,883,191 shares changing hands.

Technology Select Sector SPDR Fund Price Performance

The firm has a market cap of $82.74 billion, a price-to-earnings ratio of 35.59 and a beta of 1.21. The business has a 50-day moving average of $140.38 and a 200-day moving average of $142.36.

Technology Select Sector SPDR Fund Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Monday, March 23rd were given a dividend of $0.1675 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $0.67 annualized dividend and a dividend yield of 0.5%.

Institutional Investors Weigh In On Technology Select Sector SPDR Fund

Several large investors have recently made changes to their positions in the stock. Exencial Wealth Advisors LLC increased its holdings in 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 worth $2,595,000 after buying an additional 36 shares during the last quarter. Goelzer Investment Management Inc. lifted its stake 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 acquiring an additional 38 shares during the last quarter. Finemark National Bank & Trust grew its position in shares of Technology Select Sector SPDR Fund by 0.3% in the 3rd quarter. Finemark National Bank & Trust now owns 11,643 shares of the exchange traded fund’s stock valued at $3,282,000 after acquiring an additional 38 shares during the period. Rakuten Securities Inc. grew its position in shares of Technology Select Sector SPDR Fund by 30.2% in the 2nd quarter. Rakuten Securities Inc. now owns 164 shares of the exchange traded fund’s stock valued at $42,000 after acquiring an additional 38 shares during the period. Finally, Moors & Cabot Inc. increased its stake in shares of Technology Select Sector SPDR Fund by 0.4% during the 3rd quarter. Moors & Cabot Inc. now owns 9,365 shares of the exchange traded fund’s stock worth $2,639,000 after purchasing an additional 39 shares during the last quarter.

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.