Technology Select Sector SPDR Fund (NYSEARCA:XLK) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Shares of Technology Select Sector SPDR Fund (NYSEARCA:XLK) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $189.66 and traded as high as $191.55. Technology Select Sector SPDR Fund shares last traded at $191.00, with a volume of 7,841,235 shares trading hands.

Technology Select Sector SPDR Fund Price Performance

The company has a market capitalization of $125.96 billion, a price-to-earnings ratio of 35.59 and a beta of 1.34. The stock’s fifty day simple moving average is $189.66 and its two-hundred day simple moving average is $169.00.

Institutional Investors Weigh In On Technology Select Sector SPDR Fund

A number of institutional investors have recently modified their holdings of XLK. Bank of America Corp DE grew its position in Technology Select Sector SPDR Fund by 0.9% in the first 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 buying an additional 214,219 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Technology Select Sector SPDR Fund by 12.9% during the 1st quarter. Royal Bank of Canada now owns 5,951,587 shares of the exchange traded fund’s stock valued at $790,966,000 after acquiring an additional 681,227 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of 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 acquiring an additional 37,642 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Technology Select Sector SPDR Fund during the 1st quarter valued at $212,640,000. Finally, State Street Corp boosted its stake in shares of 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 worth $290,322,000 after acquiring an additional 78,821 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.