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

Technology Select Sector SPDR Fund (NYSEARCA:XLK)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 changing hands.

Technology Select Sector SPDR Fund Stock Down 2.6%

The business has a 50 day moving average price of $144.59 and a two-hundred day moving average price of $140.89. The stock has a market cap of $88.66 billion, a P/E ratio of 35.59 and a beta of 1.21.

Institutional Investors Weigh In On Technology Select Sector SPDR Fund

A number of institutional investors have recently added to or reduced their stakes in XLK. Private Trust Co. NA grew its position in Technology Select Sector SPDR Fund by 2.9% during the second quarter. Private Trust Co. NA now owns 9,946 shares of the exchange traded fund’s stock valued at $2,519,000 after purchasing an additional 282 shares in the last quarter. Ritholtz Wealth Management grew its holdings in shares of Technology Select Sector SPDR Fund by 70.6% during the 2nd quarter. Ritholtz Wealth Management now owns 8,818 shares of the exchange traded fund’s stock valued at $2,233,000 after acquiring an additional 3,650 shares in the last quarter. WealthPlan Investment Management LLC increased its stake in shares of Technology Select Sector SPDR Fund by 2.8% in the second quarter. WealthPlan Investment Management LLC now owns 3,412 shares of the exchange traded fund’s stock worth $864,000 after acquiring an additional 94 shares during the last quarter. Two West Capital Advisors LLC increased its stake in shares of Technology Select Sector SPDR Fund by 5.5% in the second quarter. Two West Capital Advisors LLC now owns 1,678 shares of the exchange traded fund’s stock worth $440,000 after acquiring an additional 88 shares during the last quarter. Finally, Roof Eidam Maycock Peralta LLC acquired a new position in shares of Technology Select Sector SPDR Fund in the second quarter worth $243,000.

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.