Technology Select Sector SPDR Fund (NYSEARCA:XLK) Hits New 1-Year High – What’s Next?

Shares of Technology Select Sector SPDR Fund (NYSEARCA:XLK) hit a new 52-week high on Thursday . The company 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 Price Performance

The firm has a market capitalization of $114.26 billion, a P/E ratio of 35.59 and a beta of 1.29. The stock has a fifty day simple moving average of $148.79 and a two-hundred day simple moving average of $145.62.

Institutional Investors Weigh In On Technology Select Sector SPDR Fund

A number of hedge funds have recently added to or reduced their stakes in XLK. Finemark National Bank & Trust grew its stake in Technology Select Sector SPDR Fund by 0.3% in the third quarter. Finemark National Bank & Trust now owns 11,643 shares of the exchange traded fund’s stock valued at $3,282,000 after acquiring an additional 38 shares during the period. 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 valued at $42,000 after acquiring an additional 38 shares during the period. Moors & Cabot Inc. grew its stake in Technology Select Sector SPDR Fund by 0.4% in the third quarter. Moors & Cabot Inc. now owns 9,365 shares of the exchange traded fund’s stock valued at $2,639,000 after acquiring an additional 39 shares during the period. Millstone Evans Group LLC grew its stake in 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 acquiring an additional 41 shares during the period. Finally, Beirne Wealth Consulting Services LLC grew its stake in Technology Select Sector SPDR Fund by 4.2% in the third quarter. Beirne Wealth Consulting Services LLC now owns 1,038 shares of the exchange traded fund’s stock valued at $293,000 after acquiring an additional 42 shares during the period.

About Technology Select Sector SPDR Fund

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.