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

Technology Select Sector SPDR Fund (NYSEARCA:XLK) saw some unusual options trading on Friday. Stock investors purchased 52,983 put options on the stock. This is an increase of approximately 82% compared to the typical daily volume of 29,161 put options.

Hedge Funds Weigh In On Technology Select Sector SPDR Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arista Wealth Management LLC increased its holdings in shares of Technology Select Sector SPDR Fund by 98.2% in the 4th quarter. Arista Wealth Management LLC now owns 5,814 shares of the exchange traded fund’s stock valued at $837,000 after acquiring an additional 2,880 shares during the last quarter. Severin Investments LLC raised its position in Technology Select Sector SPDR Fund by 93.6% in the 4th quarter. Severin Investments LLC now owns 7,285 shares of the exchange traded fund’s stock valued at $1,049,000 after purchasing an additional 3,522 shares during the last quarter. Ciovacco Capital Management LLC boosted its stake in shares of Technology Select Sector SPDR Fund by 126.2% during the fourth quarter. Ciovacco Capital Management LLC now owns 27,397 shares of the exchange traded fund’s stock worth $3,944,000 after buying an additional 15,285 shares during the period. Waystone Advisors LLC acquired a new stake in Technology Select Sector SPDR Fund during the 4th quarter worth approximately $837,000. Finally, MTM Investment Management LLC grew its position in Technology Select Sector SPDR Fund by 95.9% in the 4th quarter. MTM Investment Management LLC now owns 18,534 shares of the exchange traded fund’s stock valued at $2,668,000 after buying an additional 9,075 shares during the last quarter.

Technology Select Sector SPDR Fund Stock Up 0.8%

XLK stock traded up $1.56 during midday trading on Friday, hitting $196.27. The company’s stock had a trading volume of 5,966,516 shares, compared to its average volume of 13,428,509. Technology Select Sector SPDR Fund has a 12 month low of $126.68 and a 12 month high of $198.73. The firm has a market capitalization of $127.71 billion, a price-to-earnings ratio of 35.59 and a beta of 1.34. The company has a 50 day moving average of $184.29 and a two-hundred day moving average of $172.50.

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.