Technology Select Sector SPDR Fund (NYSEARCA:XLK) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Technology Select Sector SPDR Fund (NYSEARCA:XLK) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $226.05 and traded as low as $185.19. Technology Select Sector SPDR Fund shares last traded at $187.88, with a volume of 4,480,743 shares.

Technology Select Sector SPDR Fund Price Performance

The stock has a fifty day simple moving average of $212.26 and a two-hundred day simple moving average of $226.05. The firm has a market capitalization of $58.00 billion, a P/E ratio of 30.46 and a beta of 1.20.

Hedge Funds Weigh In On Technology Select Sector SPDR Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of Technology Select Sector SPDR Fund during the fourth quarter worth approximately $1,014,785,000. Strategic Financial Concepts LLC lifted its stake in shares of Technology Select Sector SPDR Fund by 23,303.4% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,185,148 shares of the exchange traded fund’s stock valued at $275,571,000 after buying an additional 1,180,084 shares in the last quarter. AGF Management Ltd. grew its holdings in shares of Technology Select Sector SPDR Fund by 71.3% during the fourth quarter. AGF Management Ltd. now owns 2,555,694 shares of the exchange traded fund’s stock valued at $594,254,000 after buying an additional 1,064,118 shares during the last quarter. CHURCHILL MANAGEMENT Corp increased its position in shares of Technology Select Sector SPDR Fund by 17.2% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 5,133,748 shares of the exchange traded fund’s stock worth $1,193,699,000 after acquiring an additional 753,883 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Technology Select Sector SPDR Fund by 66.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,705,408 shares of the exchange traded fund’s stock worth $396,542,000 after acquiring an additional 682,702 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.