Technology Select Sector SPDR Fund (NYSEARCA:XLK) Reaches New 52-Week High – Time to Buy?

Technology Select Sector SPDR Fund (NYSEARCA:XLK)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $242.58 and last traded at $242.32, with a volume of 1690846 shares trading hands. The stock had previously closed at $242.16.

Technology Select Sector SPDR Fund Stock Performance

The stock has a market cap of $76.02 billion, a price-to-earnings ratio of 36.81 and a beta of 1.35. The business’s 50 day moving average is $235.26 and its 200-day moving average is $228.49.

Hedge Funds Weigh In On Technology Select Sector SPDR Fund

A number of hedge funds have recently made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its stake in Technology Select Sector SPDR Fund by 3.7% during the third quarter. Sequoia Financial Advisors LLC now owns 26,664 shares of the exchange traded fund’s stock worth $6,020,000 after buying an additional 955 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Technology Select Sector SPDR Fund in the third quarter valued at about $7,883,000. Vicus Capital increased its position in Technology Select Sector SPDR Fund by 2.2% during the third quarter. Vicus Capital now owns 2,230 shares of the exchange traded fund’s stock worth $503,000 after purchasing an additional 49 shares during the last quarter. Surience Private Wealth LLC purchased a new position in Technology Select Sector SPDR Fund during the third quarter worth about $12,572,000. Finally, Calton & Associates Inc. boosted its holdings in Technology Select Sector SPDR Fund by 44.6% in the 3rd quarter. Calton & Associates Inc. now owns 12,496 shares of the exchange traded fund’s stock valued at $2,821,000 after purchasing an additional 3,856 shares during the last quarter.

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.