Technology Select Sector SPDR Fund (NYSEARCA:XLK) Stock Crosses Above Fifty Day Moving Average – Here’s What Happened

Technology Select Sector SPDR Fund (NYSEARCA:XLK) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $177.67 and traded as high as $185.66. Technology Select Sector SPDR Fund shares last traded at $185.41, with a volume of 11,829,368 shares trading hands.

Technology Select Sector SPDR Fund Stock Up 2.4%

The firm’s 50-day moving average is $177.67 and its 200-day moving average is $154.42. The company has a market cap of $120.19 billion, a PE ratio of 35.59 and a beta of 1.34.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Evermay Wealth Management LLC lifted its stake in shares of Technology Select Sector SPDR Fund by 74.0% in the 4th quarter. Evermay Wealth Management LLC now owns 174 shares of the exchange traded fund’s stock valued at $25,000 after purchasing an additional 74 shares during the period. Stone House Investment Management LLC purchased a new stake in Technology Select Sector SPDR Fund in the fourth quarter worth $26,000. Operose Advisors LLC purchased a new stake in Technology Select Sector SPDR Fund in the fourth quarter worth $26,000. AG Campbell Advisory LLC bought a new position in Technology Select Sector SPDR Fund in the fourth quarter worth $27,000. Finally, JPL Wealth Management LLC bought a new position in Technology Select Sector SPDR Fund in the third quarter worth $28,000.

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.