Technology Select Sector SPDR Fund (NYSEARCA:XLK) Sets New 1-Year High – Should You Buy?

Technology Select Sector SPDR Fund (NYSEARCA:XLK) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $241.88 and last traded at $241.67, with a volume of 2739672 shares. The stock had previously closed at $236.06.

Technology Select Sector SPDR Fund Stock Up 2.3 %

The business has a 50-day moving average price of $234.94 and a 200-day moving average price of $226.78. The firm has a market capitalization of $75.80 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

Hedge funds have recently modified their holdings of the stock. Godsey & Gibb Inc. lifted its position in Technology Select Sector SPDR Fund by 90.8% during the 3rd quarter. Godsey & Gibb Inc. now owns 124 shares of the exchange traded fund’s stock worth $28,000 after acquiring an additional 59 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Technology Select Sector SPDR Fund during the third quarter worth about $37,000. Cedar Mountain Advisors LLC increased its holdings in Technology Select Sector SPDR Fund by 201.9% in the 4th quarter. Cedar Mountain Advisors LLC now owns 160 shares of the exchange traded fund’s stock worth $37,000 after buying an additional 107 shares during the period. Legacy Investment Solutions LLC purchased a new position in Technology Select Sector SPDR Fund during the 3rd quarter worth approximately $54,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Technology Select Sector SPDR Fund in the 3rd quarter valued at $60,000.

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.