Technology Select Sector SPDR Fund (NYSEARCA:XLK) Reaches New 1-Year Low – What’s Next?

Technology Select Sector SPDR Fund (NYSEARCA:XLK)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $186.45 and last traded at $185.55, with a volume of 2932405 shares. The stock had previously closed at $195.23.

Technology Select Sector SPDR Fund Stock Performance

The stock has a fifty day moving average of $222.52 and a 200 day moving average of $228.77. The company has a market capitalization of $56.68 billion, a P/E ratio of 33.03 and a beta of 1.20.

Technology Select Sector SPDR Fund Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, March 26th. Stockholders of record on Monday, March 24th were given a dividend of $0.3749 per share. The ex-dividend date was Monday, March 24th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Minot DeBlois Advisors LLC purchased a new position in Technology Select Sector SPDR Fund during the fourth quarter valued at approximately $33,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Technology Select Sector SPDR Fund during the 4th quarter valued at $35,000. Cedar Mountain Advisors LLC lifted its stake 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 buying an additional 107 shares in the last quarter. Vision Financial Markets LLC bought a new position in Technology Select Sector SPDR Fund in the 4th quarter worth $38,000. Finally, Rakuten Securities Inc. increased its stake in Technology Select Sector SPDR Fund by 66.7% in the 4th quarter. Rakuten Securities Inc. now owns 180 shares of the exchange traded fund’s stock worth $42,000 after buying an additional 72 shares in the last quarter.

About Technology Select Sector SPDR Fund

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.