Technology Select Sector SPDR Fund (NYSEARCA:XLK) Stock Passes Below 200 Day Moving Average – Here’s What Happened

Technology Select Sector SPDR Fund (NYSEARCA:XLK) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $229.72 and traded as low as $229.23. Technology Select Sector SPDR Fund shares last traded at $231.00, with a volume of 3,812,966 shares trading hands.

Technology Select Sector SPDR Fund Stock Performance

The firm has a market capitalization of $72.71 billion, a P/E ratio of 36.68 and a beta of 1.13. The firm’s 50-day moving average is $234.85 and its 200 day moving average is $229.72.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in XLK. Measured Wealth Private Client Group LLC increased its position in shares of Technology Select Sector SPDR Fund by 21.7% during the third quarter. Measured Wealth Private Client Group LLC now owns 57,541 shares of the exchange traded fund’s stock worth $12,991,000 after buying an additional 10,266 shares during the period. Ayalon Insurance Comp Ltd. lifted its position in shares of Technology Select Sector SPDR Fund by 4.6% during the third quarter. Ayalon Insurance Comp Ltd. now owns 121,344 shares of the exchange traded fund’s stock valued at $27,395,000 after purchasing an additional 5,313 shares in the last quarter. Goldstone Financial Group LLC bought a new position in shares of Technology Select Sector SPDR Fund during the third quarter valued at about $356,000. Financial Advocates Investment Management raised its position in Technology Select Sector SPDR Fund by 47.0% in the third quarter. Financial Advocates Investment Management now owns 39,145 shares of the exchange traded fund’s stock worth $8,837,000 after acquiring an additional 12,514 shares during the period. Finally, JFS Wealth Advisors LLC raised its position in Technology Select Sector SPDR Fund by 4.8% in the third quarter. JFS Wealth Advisors LLC now owns 22,697 shares of the exchange traded fund’s stock worth $5,124,000 after acquiring an additional 1,039 shares during the period.

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.