Technology Select Sector SPDR Fund (NYSEARCA:XLK) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?
by Kim Johansen · The Markets DailyTechnology Select Sector SPDR Fund (NYSEARCA:XLK – Get Free Report) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $142.02 and traded as low as $139.52. Technology Select Sector SPDR Fund shares last traded at $140.43, with a volume of 14,006,401 shares changing hands.
Technology Select Sector SPDR Fund Trading Down 0.8%
The company’s 50-day moving average price is $142.28 and its two-hundred day moving average price is $142.04. The company has a market cap of $87.12 billion, a P/E ratio of 35.59 and a beta of 1.21.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in shares of Technology Select Sector SPDR Fund by 97.7% in the 4th 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 acquiring an additional 11,689,331 shares during the last quarter. Morgan Stanley boosted its position in shares of Technology Select Sector SPDR Fund by 83.7% in the 4th quarter. Morgan Stanley now owns 19,348,529 shares of the exchange traded fund’s stock valued at $2,785,608,000 after purchasing an additional 8,818,215 shares during the period. Focus Partners Wealth boosted its position in shares of Technology Select Sector SPDR Fund by 96.3% in the 4th quarter. Focus Partners Wealth now owns 13,123,017 shares of the exchange traded fund’s stock valued at $1,889,321,000 after purchasing an additional 6,437,393 shares during the period. Raymond James Financial Inc. increased its stake in Technology Select Sector SPDR Fund by 99.4% in the 4th quarter. Raymond James Financial Inc. now owns 8,118,848 shares of the exchange traded fund’s stock worth $1,168,870,000 after purchasing an additional 4,047,225 shares in the last quarter. Finally, Main Management ETF Advisors LLC increased its stake in Technology Select Sector SPDR Fund by 105.1% in the 4th quarter. Main Management ETF Advisors LLC now owns 5,506,430 shares of the exchange traded fund’s stock worth $792,761,000 after purchasing an additional 2,822,232 shares in the last quarter.
Technology Select Sector SPDR Fund Company Profile
Sector SPDR Trust SBI Interest, formerly Technology Select Sector SPDR Fund, seeks to provide investment results that correspond to the price and yield performance of the Technology Select Sector of the S&P 500 Index (the Index). The Index includes companies primarily involved in industries, such as information technology (IT) consulting, semiconductor equipment and products, computers and peripherals, diversified telecommunication services and wireless telecommunication services.It utilizes a passive or indexing investment approach to invest in a portfolio of stocks that seek to replicate the Index.