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

Shares of Technology Select Sector SPDR Fund (NYSEARCA:XLK) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $246.38 and traded as high as $264.15. Technology Select Sector SPDR Fund shares last traded at $264.08, with a volume of 5,755,784 shares changing hands.

Technology Select Sector SPDR Fund Trading Up 0.8%

The firm has a fifty day moving average of $246.38 and a two-hundred day moving average of $228.26. The company has a market capitalization of $83.87 billion, a PE ratio of 35.59 and a beta of 1.14.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in XLK. Kingstone Capital Partners Texas LLC boosted its position in Technology Select Sector SPDR Fund by 613,347.6% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 101,114,576 shares of the exchange traded fund’s stock valued at $25,605,244,000 after buying an additional 101,098,093 shares during the period. Menora Mivtachim Holdings LTD. raised its stake in shares of Technology Select Sector SPDR Fund by 30,568.1% during the first quarter. Menora Mivtachim Holdings LTD. now owns 841,840 shares of the exchange traded fund’s stock valued at $173,823,000 after acquiring an additional 839,095 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Technology Select Sector SPDR Fund by 65.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,607,952 shares of the exchange traded fund’s stock worth $332,010,000 after purchasing an additional 634,858 shares during the period. GAMMA Investing LLC grew its stake in shares of Technology Select Sector SPDR Fund by 20,548.0% in the first quarter. GAMMA Investing LLC now owns 629,558 shares of the exchange traded fund’s stock worth $129,991,000 after purchasing an additional 626,509 shares during the last quarter. Finally, SRB Corp purchased a new position in Technology Select Sector SPDR Fund during the 1st quarter valued at about $105,611,000.

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.