Technology Select Sector SPDR Fund Sees Unusually Large Options Volume (NYSEARCA:XLK)

Technology Select Sector SPDR Fund (NYSEARCA:XLK) was the recipient of some unusual options trading activity on Friday. Traders acquired 52,660 put options on the stock. This represents an increase of approximately 189% compared to the typical daily volume of 18,213 put options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in shares of Technology Select Sector SPDR Fund by 21.6% during the fourth quarter. Brighton Jones LLC now owns 9,477 shares of the exchange traded fund’s stock valued at $2,204,000 after acquiring an additional 1,684 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Technology Select Sector SPDR Fund in the fourth quarter valued at $204,000. Bison Wealth LLC raised its holdings in shares of Technology Select Sector SPDR Fund by 9.0% in the 4th quarter. Bison Wealth LLC now owns 4,673 shares of the exchange traded fund’s stock valued at $1,087,000 after purchasing an additional 385 shares in the last quarter. United Bank lifted its stake in Technology Select Sector SPDR Fund by 9.0% during the first quarter. United Bank now owns 35,885 shares of the exchange traded fund’s stock worth $7,410,000 after purchasing an additional 2,958 shares during the last quarter. Finally, Bank of Nova Scotia grew its holdings in shares of Technology Select Sector SPDR Fund by 9.9% during the first quarter. Bank of Nova Scotia now owns 11,770 shares of the exchange traded fund’s stock worth $2,430,000 after purchasing an additional 1,056 shares during the last quarter.

Technology Select Sector SPDR Fund Trading Up 0.7%

Shares of NYSEARCA XLK traded up $1.03 during trading hours on Friday, hitting $146.57. 5,434,462 shares of the company traded hands, compared to its average volume of 14,039,222. Technology Select Sector SPDR Fund has a 12 month low of $86.22 and a 12 month high of $152.99. The company’s 50 day moving average price is $287.71 and its 200 day moving average price is $266.71. The stock has a market capitalization of $47.34 billion, a price-to-earnings ratio of 35.59 and a beta of 1.21.

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.