Technology Select Sector SPDR Fund (NYSEARCA:XLK) Reaches New 12-Month High – Should You Buy?

Technology Select Sector SPDR Fund (NYSEARCA:XLK) shares reached a new 52-week high during trading on Friday . The stock traded as high as $180.67 and last traded at $180.4980, with a volume of 409783 shares changing hands. The stock had previously closed at $178.60.

Technology Select Sector SPDR Fund Trading Up 1.5%

The stock has a market capitalization of $117.54 billion, a price-to-earnings ratio of 35.59 and a beta of 1.29. The firm has a 50-day moving average of $151.72 and a 200 day moving average of $146.30.

Hedge Funds Weigh In On Technology Select Sector SPDR Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XLK. Evermay Wealth Management LLC boosted its stake in Technology Select Sector SPDR Fund by 74.0% during the 4th quarter. Evermay Wealth Management LLC now owns 174 shares of the exchange traded fund’s stock valued at $25,000 after purchasing an additional 74 shares in the last quarter. Stone House Investment Management LLC bought a new position in Technology Select Sector SPDR Fund during the 4th quarter valued at $26,000. Operose Advisors LLC bought a new position in Technology Select Sector SPDR Fund during the 4th quarter valued at $26,000. AG Campbell Advisory LLC bought a new position in Technology Select Sector SPDR Fund during the 4th quarter valued at $27,000. Finally, JPL Wealth Management LLC bought a new position in Technology Select Sector SPDR Fund during the 3rd quarter valued at $28,000.

Technology Select Sector SPDR Fund Company Profile

The Technology Select Sector SPDR Fund is an exchange-traded fund that aims to track, before fees and expenses, the performance of the Technology Select Sector Index. The index is designed to represent the technology companies within the S&P 500 and provides concentrated exposure to industries such as software, semiconductors, IT services, communications equipment, and technology hardware.