Technology Select Sector SPDR Fund (NYSEARCA:XLK) Stock Price Passes Above 50-Day Moving Average – Here’s What Happened

Technology Select Sector SPDR Fund (NYSEARCA:XLK)’s stock price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $181.33 and traded as high as $181.63. Technology Select Sector SPDR Fund shares last traded at $181.40, with a volume of 10,384,045 shares traded.

Technology Select Sector SPDR Fund Stock Up 0.2%

The company has a market capitalization of $120.81 billion, a PE ratio of 35.59 and a beta of 1.33. The company has a 50-day moving average price of $182.42 and a two-hundred day moving average price of $156.85.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in XLK. Bank of America Corp DE grew its stake in Technology Select Sector SPDR Fund by 0.9% during the first quarter. Bank of America Corp DE now owns 23,868,812 shares of the exchange traded fund’s stock valued at $3,172,165,000 after acquiring an additional 214,219 shares in the last quarter. Morgan Stanley increased its holdings in Technology Select Sector SPDR Fund by 83.7% during the 4th quarter. Morgan Stanley now owns 19,348,529 shares of the exchange traded fund’s stock worth $2,785,608,000 after acquiring an additional 8,818,215 shares during the period. Focus Partners Wealth lifted its stake in Technology Select Sector SPDR Fund by 96.3% in the 4th quarter. Focus Partners Wealth now owns 13,123,017 shares of the exchange traded fund’s stock worth $1,889,321,000 after purchasing an additional 6,437,393 shares in the last quarter. Raymond James Financial Inc. lifted its stake in Technology Select Sector SPDR Fund by 99.4% in the 4th quarter. Raymond James Financial Inc. now owns 8,118,848 shares of the exchange traded fund’s stock worth $1,168,870,000 after purchasing an additional 4,047,225 shares in the last quarter. Finally, Royal Bank of Canada grew 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 purchasing an additional 681,227 shares in the last quarter.

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.