Technology Select Sector SPDR Fund (NYSEARCA:XLK) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Technology Select Sector SPDR Fund (NYSEARCA:XLK) crossed 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 changing hands.

Technology Select Sector SPDR Fund Stock Performance

The business’s fifty day moving average is $188.92 and its 200-day moving average is $169.91. The firm has a market cap of $107.31 billion, a P/E ratio of 35.59 and a beta of 1.36.

Hedge Funds Weigh In On Technology Select Sector SPDR Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Main Street Research LLC purchased a new stake in Technology Select Sector SPDR Fund in the 1st quarter worth about $372,000. First Horizon Corp raised its stake in Technology Select Sector SPDR Fund by 0.5% in the 1st quarter. First Horizon Corp now owns 234,719 shares of the exchange traded fund’s stock valued at $31,194,000 after acquiring an additional 1,098 shares during the period. Kestra Advisory Services LLC raised its stake in Technology Select Sector SPDR Fund by 4.5% in the 1st quarter. Kestra Advisory Services LLC now owns 699,988 shares of the exchange traded fund’s stock valued at $93,028,000 after acquiring an additional 29,968 shares during the period. ES4 LLC lifted its holdings in Technology Select Sector SPDR Fund by 50.0% during the first quarter. ES4 LLC now owns 69,781 shares of the exchange traded fund’s stock valued at $9,274,000 after purchasing an additional 23,261 shares during the last quarter. Finally, Capital Planning LLC lifted its holdings in Technology Select Sector SPDR Fund by 9.7% during the first quarter. Capital Planning LLC now owns 65,966 shares of the exchange traded fund’s stock valued at $8,767,000 after purchasing an additional 5,830 shares during 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.