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

Technology Select Sector SPDR Fund (NYSEARCA:XLK) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $242.58 and last traded at $242.32, with a volume of 1690846 shares traded. The stock had previously closed at $242.16.

Technology Select Sector SPDR Fund Stock Down 2.7 %

The firm’s 50 day simple moving average is $235.38 and its 200-day simple moving average is $228.68. The company has a market capitalization of $73.73 billion, a PE ratio of 36.81 and a beta of 1.35.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Minot DeBlois Advisors LLC acquired a new position in shares of Technology Select Sector SPDR Fund during the fourth quarter worth $33,000. Runnymede Capital Advisors Inc. acquired a new stake in Technology Select Sector SPDR Fund in the fourth quarter valued at $35,000. Cedar Mountain Advisors LLC raised its holdings in Technology Select Sector SPDR Fund by 201.9% in the fourth quarter. Cedar Mountain Advisors LLC now owns 160 shares of the exchange traded fund’s stock valued at $37,000 after acquiring an additional 107 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in Technology Select Sector SPDR Fund in the fourth quarter valued at $38,000. Finally, Rakuten Securities Inc. raised its holdings in Technology Select Sector SPDR Fund by 66.7% in the fourth quarter. Rakuten Securities Inc. now owns 180 shares of the exchange traded fund’s stock valued at $42,000 after acquiring an additional 72 shares in the last quarter.

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.