Technology Select Sector SPDR Fund (NYSEARCA:XLK) Share Price Crosses Above 50-Day Moving Average – Should You Sell?

Technology Select Sector SPDR Fund (NYSEARCA:XLK)’s share price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $233.31 and traded as high as $237.86. Technology Select Sector SPDR Fund shares last traded at $235.96, with a volume of 7,443,101 shares changing hands.

Technology Select Sector SPDR Fund Price Performance

The business’s 50-day moving average price is $233.31 and its two-hundred day moving average price is $225.27. The firm has a market cap of $74.07 billion, a price-to-earnings ratio of 36.81 and a beta of 1.35.

Hedge Funds Weigh In On Technology Select Sector SPDR Fund

Large investors have recently modified their holdings of the stock. Strategic Financial Concepts LLC increased its stake in Technology Select Sector SPDR Fund by 19,299.4% during the second quarter. Strategic Financial Concepts LLC now owns 1,111,975 shares of the exchange traded fund’s stock valued at $251,562,000 after purchasing an additional 1,106,243 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Technology Select Sector SPDR Fund by 8.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 5,431,458 shares of the exchange traded fund’s stock valued at $1,228,759,000 after buying an additional 434,334 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in Technology Select Sector SPDR Fund by 58.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 976,843 shares of the exchange traded fund’s stock worth $220,532,000 after acquiring an additional 359,197 shares during the period. SG Americas Securities LLC raised its stake in Technology Select Sector SPDR Fund by 226.6% during the third quarter. SG Americas Securities LLC now owns 497,665 shares of the exchange traded fund’s stock worth $112,353,000 after acquiring an additional 345,272 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Technology Select Sector SPDR Fund by 7.0% in the second quarter. Ameriprise Financial Inc. now owns 4,212,054 shares of the exchange traded fund’s stock worth $955,478,000 after acquiring an additional 275,102 shares during the last quarter.

About Technology Select Sector SPDR Fund

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.