Technology Select Sector SPDR Fund (NYSEARCA:XLK) Shares Pass Below 200-Day Moving Average – Time to Sell?

Technology Select Sector SPDR Fund (NYSEARCA:XLK) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $140.89 and traded as low as $138.91. Technology Select Sector SPDR Fund shares last traded at $139.21, with a volume of 32,137,447 shares trading hands.

Technology Select Sector SPDR Fund Trading Down 2.6%

The firm has a 50-day simple moving average of $144.59 and a two-hundred day simple moving average of $140.89. The company has a market capitalization of $88.66 billion, a price-to-earnings ratio of 35.59 and a beta of 1.21.

Hedge Funds Weigh In On Technology Select Sector SPDR Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empire Financial Management Company LLC grew its position in Technology Select Sector SPDR Fund by 97.6% in the fourth quarter. Empire Financial Management Company LLC now owns 8,187 shares of the exchange traded fund’s stock worth $1,179,000 after acquiring an additional 4,044 shares in the last quarter. Douglass Winthrop Advisors LLC raised its holdings in shares of Technology Select Sector SPDR Fund by 100.0% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 3,172 shares of the exchange traded fund’s stock valued at $457,000 after purchasing an additional 1,586 shares in the last quarter. Alaethes Wealth LLC lifted its stake in shares of Technology Select Sector SPDR Fund by 105.8% in the 4th quarter. Alaethes Wealth LLC now owns 3,742 shares of the exchange traded fund’s stock valued at $539,000 after purchasing an additional 1,924 shares during the last quarter. Laurel Oak Wealth Management LLC bought a new stake in Technology Select Sector SPDR Fund in the fourth quarter worth $1,212,000. Finally, FineMark National Bank & Trust boosted its holdings in Technology Select Sector SPDR Fund by 104.8% in the fourth quarter. FineMark National Bank & Trust now owns 23,844 shares of the exchange traded fund’s stock worth $3,433,000 after purchasing an additional 12,201 shares in the last quarter.

About Technology Select Sector SPDR Fund

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.