Technology Select Sector SPDR Fund (NYSEARCA:XLK) Reaches New 12-Month High – Time to Buy?

Shares of Technology Select Sector SPDR Fund (NYSEARCA:XLK) reached a new 52-week high during trading on Friday . The stock traded as high as $161.99 and last traded at $161.7490, with a volume of 1264013 shares changing hands. The stock had previously closed at $159.50.

Technology Select Sector SPDR Fund Stock Up 1.4%

The firm has a market capitalization of $105.33 billion, a PE ratio of 35.59 and a beta of 1.24. The company’s 50-day simple moving average is $142.65 and its 200 day simple moving average is $143.68.

Institutional Trading of Technology Select Sector SPDR Fund

Several hedge funds have recently modified their holdings of XLK. Brighton Jones LLC lifted its position 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 buying an additional 1,684 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Technology Select Sector SPDR Fund in the 4th quarter valued at approximately $204,000. Bison Wealth LLC boosted its stake in 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 worth $1,087,000 after purchasing an additional 385 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Technology Select Sector SPDR Fund by 61.9% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,603,396 shares of the exchange traded fund’s stock worth $659,258,000 after purchasing an additional 995,444 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Technology Select Sector SPDR Fund by 27.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,635 shares of the exchange traded fund’s stock worth $1,174,000 after purchasing an additional 1,009 shares in the last quarter.

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.