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 on Friday. Stock traders purchased 41,644 put options on the company. This represents an increase of 55% compared to the average daily volume of 26,897 put options.

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 lifted its position in Technology Select Sector SPDR Fund by 74.0% in the fourth quarter. Evermay Wealth Management LLC now owns 174 shares of the exchange traded fund’s stock valued at $25,000 after acquiring an additional 74 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in Technology Select Sector SPDR Fund during the 4th quarter valued at approximately $26,000. Operose Advisors LLC acquired a new stake in shares of Technology Select Sector SPDR Fund during the fourth quarter worth $26,000. AG Campbell Advisory LLC acquired a new stake in shares of Technology Select Sector SPDR Fund in the 4th quarter worth $27,000. Finally, JPL Wealth Management LLC acquired a new position in Technology Select Sector SPDR Fund during the 3rd quarter worth approximately $28,000.

Technology Select Sector SPDR Fund Price Performance

Shares of Technology Select Sector SPDR Fund stock traded up $2.12 on Friday, reaching $187.45. 3,630,841 shares of the company were exchanged, compared to its average volume of 14,995,903. Technology Select Sector SPDR Fund has a 1-year low of $126.68 and a 1-year high of $198.73. The company has a market cap of $123.31 billion, a P/E ratio of 35.59 and a beta of 1.34. The stock’s 50 day moving average price is $183.28 and its 200-day moving average price is $161.33.

About Technology Select Sector SPDR Fund

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.