Technology Select Sector SPDR Fund (NYSEARCA:XLK) Stock Crosses Below 200 Day Moving Average – Should You 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 $169.91 and traded as low as $162.14. Technology Select Sector SPDR Fund shares last traded at $162.38, with a volume of 33,239,932 shares trading hands.

Technology Select Sector SPDR Fund Stock Performance

The company has a market capitalization of $107.31 billion, a PE ratio of 35.59 and a beta of 1.36. The stock’s 50 day moving average is $188.92 and its 200 day moving average is $169.91.

Institutional Investors Weigh In On Technology Select Sector SPDR Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its holdings in Technology Select Sector SPDR Fund by 0.9% during the 1st quarter. Bank of America Corp DE now owns 23,868,812 shares of the exchange traded fund’s stock worth $3,172,165,000 after purchasing an additional 214,219 shares in the last quarter. Royal Bank of Canada boosted its stake in Technology Select Sector SPDR Fund by 12.9% in the 1st quarter. Royal Bank of Canada now owns 5,951,587 shares of the exchange traded fund’s stock worth $790,966,000 after purchasing an additional 681,227 shares during the period. State Street Corp grew its holdings in Technology Select Sector SPDR Fund by 5.5% during the 2nd quarter. State Street Corp now owns 1,523,838 shares of the exchange traded fund’s stock valued at $290,322,000 after buying an additional 78,821 shares in the last quarter. Cetera Investment Advisers grew its holdings in Technology Select Sector SPDR Fund by 2.1% during the 1st quarter. Cetera Investment Advisers now owns 1,826,990 shares of the exchange traded fund’s stock valued at $242,807,000 after buying an additional 37,642 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in Technology Select Sector SPDR Fund by 3.4% during the 3rd quarter. Fifth Third Bancorp now owns 1,103,868 shares of the exchange traded fund’s stock valued at $216,082,000 after buying an additional 35,943 shares in the last quarter.

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.