Technology Select Sector SPDR Fund (NYSEARCA:XLK) Sets New 12-Month High – What’s Next?

Technology Select Sector SPDR Fund (NYSEARCA:XLK)’s share price reached a new 52-week high on Thursday . The company traded as high as $186.27 and last traded at $184.43, with a volume of 12295803 shares traded. The stock had previously closed at $185.14.

Technology Select Sector SPDR Fund Trading Up 2.2%

The firm has a market capitalization of $123.83 billion, a PE ratio of 35.59 and a beta of 1.29. The business has a 50 day moving average price of $157.25 and a 200-day moving average price of $147.89.

Hedge Funds Weigh In On Technology Select Sector SPDR Fund

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in shares of Technology Select Sector SPDR Fund by 97.7% during the fourth quarter. Bank of America Corp DE now owns 23,654,593 shares of the exchange traded fund’s stock worth $3,405,552,000 after purchasing an additional 11,689,331 shares during the last quarter. Morgan Stanley lifted its stake in shares of Technology Select Sector SPDR Fund by 83.7% during the fourth quarter. Morgan Stanley now owns 19,348,529 shares of the exchange traded fund’s stock worth $2,785,608,000 after purchasing an additional 8,818,215 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of Technology Select Sector SPDR Fund by 96.3% during the fourth quarter. Focus Partners Wealth now owns 13,123,017 shares of the exchange traded fund’s stock worth $1,889,321,000 after purchasing an additional 6,437,393 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of Technology Select Sector SPDR Fund by 99.4% during the fourth quarter. Raymond James Financial Inc. now owns 8,118,848 shares of the exchange traded fund’s stock worth $1,168,870,000 after acquiring an additional 4,047,225 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in Technology Select Sector SPDR Fund by 163.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,053,446 shares of the exchange traded fund’s stock valued at $727,545,000 after buying an additional 3,135,920 shares during the last quarter.

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.