Technology Select Sector SPDR Fund (NYSEARCA:XLK) Stock Sees Heavy Put Option Buying

Technology Select Sector SPDR Fund (NYSEARCA:XLK) was the target of some unusual options trading activity on Friday. Stock traders purchased 177,959 put options on the stock. This represents an increase of approximately 490% compared to the average volume of 30,154 put options.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Downshift Financial LLC boosted its holdings in shares of Technology Select Sector SPDR Fund by 8.9% during the 3rd quarter. Downshift Financial LLC now owns 634 shares of the exchange traded fund’s stock worth $124,000 after buying an additional 52 shares in the last quarter. Blue Fin Capital Inc. grew its position in shares of Technology Select Sector SPDR Fund by 1.4% during the 3rd quarter. Blue Fin Capital Inc. now owns 3,793 shares of the exchange traded fund’s stock worth $742,000 after buying an additional 53 shares during the period. PCG Wealth Advisors LLC grew its position in shares of Technology Select Sector SPDR Fund by 0.9% during the 2nd quarter. PCG Wealth Advisors LLC now owns 5,864 shares of the exchange traded fund’s stock worth $1,117,000 after buying an additional 55 shares during the period. Brown Lisle Cummings Inc. increased its stake in shares of Technology Select Sector SPDR Fund by 24.3% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 286 shares of the exchange traded fund’s stock valued at $56,000 after acquiring an additional 56 shares in the last quarter. Finally, Oakwell Private Wealth Management LLC increased its stake in shares of Technology Select Sector SPDR Fund by 1.5% in the 1st quarter. Oakwell Private Wealth Management LLC now owns 4,104 shares of the exchange traded fund’s stock valued at $545,000 after acquiring an additional 62 shares in the last quarter.

Technology Select Sector SPDR Fund Trading Up 1.4%

XLK stock traded up $2.28 during midday trading on Friday, hitting $164.66. The stock had a trading volume of 9,392,119 shares, compared to its average volume of 12,985,483. The firm has a market cap of $108.82 billion, a P/E ratio of 35.59 and a beta of 1.36. The business has a fifty day moving average price of $188.92 and a two-hundred day moving average price of $169.91. Technology Select Sector SPDR Fund has a 1-year low of $126.68 and a 1-year high of $203.25.

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.