Technology Select Sector SPDR Fund (NYSEARCA:XLK) Shares Cross Above 50-Day Moving Average – Time to Sell?

Technology Select Sector SPDR Fund (NYSEARCA:XLK) shares crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $181.33 and traded as high as $181.63. Technology Select Sector SPDR Fund shares last traded at $181.40, with a volume of 10,384,045 shares trading hands.

Technology Select Sector SPDR Fund Stock Performance

The company has a market capitalization of $117.97 billion, a P/E ratio of 35.59 and a beta of 1.33. The business’s fifty day simple moving average is $181.33 and its 200-day simple moving average is $156.36.

Institutional Investors Weigh In On Technology Select Sector SPDR Fund

Several large investors have recently made changes to their positions in XLK. Evermay Wealth Management LLC raised its holdings in shares of Technology Select Sector SPDR Fund by 74.0% during the 4th quarter. Evermay Wealth Management LLC now owns 174 shares of the exchange traded fund’s stock worth $25,000 after acquiring an additional 74 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of Technology Select Sector SPDR Fund during the 4th quarter valued at approximately $26,000. Operose Advisors LLC purchased a new position in shares of Technology Select Sector SPDR Fund in the fourth quarter valued at $26,000. AG Campbell Advisory LLC purchased a new position in shares of Technology Select Sector SPDR Fund in the fourth quarter valued at $27,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Technology Select Sector SPDR Fund in the third quarter valued at $28,000.

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.