Traders Buy Technology Select Sector SPDR Fund (XLK) on Weakness
Traders purchased shares of Technology Select Sector SPDR Fund (NYSEARCA:XLK) on weakness during trading hours on Wednesday. $199.39 million flowed into the stock on the tick-up and $72.54 million flowed out of the stock on the tick-down, for a money net flow of $126.85 million into the stock. Of all stocks tracked, Technology Select Sector SPDR Fund had the 3rd highest net in-flow for the day. Technology Select Sector SPDR Fund traded down ($0.28) for the day and closed at $71.49
Separately, Morgan Stanley downgraded Technology Select Sector SPDR Fund to an “underweight” rating in a research report on Monday.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 20th. Shareholders of record on Monday, June 18th were given a $0.2553 dividend. This is an increase from Technology Select Sector SPDR Fund’s previous quarterly dividend of $0.22. This represents a $1.02 annualized dividend and a yield of 1.43%. The ex-dividend date was Friday, June 15th.
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.
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