Technology Select Sector SPDR Fund (NYSEARCA:XLK) Reaches New 52-Week High – What’s Next?

Shares of Technology Select Sector SPDR Fund (NYSEARCA:XLK) hit a new 52-week high during trading on Thursday . The stock traded as high as $178.83 and last traded at $178.8330, with a volume of 1981934 shares. The stock had previously closed at $176.85.

Technology Select Sector SPDR Fund Trading Up 1.5%

The firm has a market cap of $116.31 billion, a PE ratio of 35.59 and a beta of 1.29. The firm’s 50 day simple moving average is $147.22 and its 200 day simple moving average is $145.18.

Institutional Investors Weigh In On Technology Select Sector SPDR Fund

Several large investors have recently added to or reduced their stakes in XLK. JPL Wealth Management LLC purchased a new stake in shares of Technology Select Sector SPDR Fund in the third quarter valued at $28,000. Federated Hermes Inc. bought a new position in Technology Select Sector SPDR Fund in the 3rd quarter worth about $30,000. Orion Capital Management LLC boosted its holdings in shares of Technology Select Sector SPDR Fund by 481.8% in the third quarter. Orion Capital Management LLC now owns 128 shares of the exchange traded fund’s stock valued at $36,000 after purchasing an additional 106 shares during the period. Millstone Evans Group LLC boosted its holdings in shares of Technology Select Sector SPDR Fund by 37.6% in the third quarter. Millstone Evans Group LLC now owns 150 shares of the exchange traded fund’s stock valued at $42,000 after purchasing an additional 41 shares during the period. Finally, Rakuten Securities Inc. grew its stake in Technology Select Sector SPDR Fund by 30.2% in the second quarter. Rakuten Securities Inc. now owns 164 shares of the exchange traded fund’s stock worth $42,000 after purchasing an additional 38 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.