Technology Select Sector SPDR Fund (NYSEARCA:XLK) Hits New 12-Month High – Still a Buy?

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

Technology Select Sector SPDR Fund Price Performance

The firm has a market cap of $76.02 billion, a PE ratio of 36.81 and a beta of 1.35. The stock’s fifty day simple moving average is $235.26 and its 200-day simple moving average is $228.49.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Godsey & Gibb Inc. lifted its stake in shares of Technology Select Sector SPDR Fund by 90.8% in the 3rd quarter. Godsey & Gibb Inc. now owns 124 shares of the exchange traded fund’s stock valued at $28,000 after purchasing an additional 59 shares during the period. Minot DeBlois Advisors LLC acquired a new position in shares of Technology Select Sector SPDR Fund in the fourth quarter worth about $33,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Technology Select Sector SPDR Fund in the fourth quarter worth about $35,000. Northwest Investment Counselors LLC purchased a new stake in shares of Technology Select Sector SPDR Fund during the 3rd quarter worth about $37,000. Finally, Cedar Mountain Advisors LLC grew its position in shares of Technology Select Sector SPDR Fund by 201.9% during the 4th quarter. Cedar Mountain Advisors LLC now owns 160 shares of the exchange traded fund’s stock valued at $37,000 after acquiring an additional 107 shares during the period.

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.