Technology Select Sector SPDR Fund (NYSEARCA:XLK) Reaches New 1-Year High – Here’s What Happened

Shares of Technology Select Sector SPDR Fund (NYSEARCA:XLK) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $186.27 and last traded at $184.43, with a volume of 12295803 shares trading hands. The stock had previously closed at $185.14.

Technology Select Sector SPDR Fund Stock Performance

The stock has a market cap of $119.56 billion, a price-to-earnings ratio of 35.59 and a beta of 1.29. The company’s 50 day simple moving average is $155.25 and its two-hundred day simple moving average is $147.28.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Summit Financial Wealth Advisors LLC increased its stake in Technology Select Sector SPDR Fund by 1.0% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 7,457 shares of the exchange traded fund’s stock valued at $991,000 after buying an additional 74 shares during the period. Axiom Investment Management LLC acquired a new position in Technology Select Sector SPDR Fund in the 1st quarter valued at approximately $318,000. WNY Asset Management LLC acquired a new position in Technology Select Sector SPDR Fund in the 1st quarter valued at approximately $6,525,000. Coastline Complete Wealth LLC increased its stake in Technology Select Sector SPDR Fund by 9.7% in the 1st quarter. Coastline Complete Wealth LLC now owns 7,572 shares of the exchange traded fund’s stock valued at $1,006,000 after buying an additional 671 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new position in Technology Select Sector SPDR Fund in the 1st quarter valued at approximately $3,714,000.

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.