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Asset Summary

Daily Performance Report for XLK ETF: Nov 21, 2024

Summary: The day started with XLK ETF opening at $229.97 and closing at $229.28. The ETF showed weakness throughout the day, with the highest price observed at $229.97 and the lowest at $228.9. The underlying asset had a trading range of $1.07 Overall, it was a negative trading day for XLK ETF, reflecting investor pessimism and market activity.

Change in Closing Price: There was a net decrease of $-0.69 or -0.30% in the closing price from the opening to the closing price over the day.

Volume Analysis: Trading volume for XLK ETF was 5,190 units during Nov 21, 2024, indicating active market participation and investor interest.

Opening Price: The day started at $229.97.

Highest Price: The highest price observed during the day was $229.97.

Lowest Price: The lowest price observed during the day was $228.9.

Closing Price: The day ended at $229.28.

Asset Performance Metrics and Risk Characteristics:

Understanding asset performance is crucial for evaluating investment quality and making informed decisions. Metrics like trailing return and drawdown provide insights into how an asset has performed over time, its volatility, and the efficiency of its returns relative to risk. Performance indicators help assess the stability, risk, and reward of an investment, allowing investors and portfolio managers to make comparisons and strategize accordingly.

Asset Technical Analysis

Technical analysis involves evaluating an asset's price and volume data to forecast future movements and make informed trading decisions. By using various technical indicators and chart patterns, investors can gain insights into market trends, price momentum, and potential turning points. This section delves into essential technical metrics, including moving averages, pivot points, and other indicators that provide a snapshot of an asset's current technical stance. Analyzing these indicators helps investors identify entry and exit points, assess market sentiment, and refine their trading strategies. Explore the following technical analysis data to understand the asset's performance dynamics and make better-informed decisions.

Moving Averages

Moving Averages are commonly used to smooth out price data and identify trends over a specific period. Here’s a summary of the latest moving averages for various periods:

  • SMA (Simple Moving Average): Reflects the average price over a specific number of periods.
  • EMA (Exponential Moving Average): Gives more weight to recent prices, making it more responsive to new information.
  • WMA (Weighted Moving Average): Assigns a weight to each price, emphasizing more recent prices.
  • WEMA (Weighted Exponential Moving Average): Combines elements of both WMA and EMA for a more responsive moving average.

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Frequently Asked Questions

XLK is rebalanced quarterly to align with changes in the Technology Select Sector Index. This rebalancing ensures that the ETF continues to accurately reflect the index.

Historically, XLK has shown performance that reflects the trends of the technology sector. Performance can vary based on technological advancements, market demand, and the financial health of individual companies within the sector.

Similar ETFs to XLK include the iShares U.S. Technology ETF (IYW) and the Vanguard Information Technology ETF (VGT). These ETFs also focus on the technology sector but may have different methodologies or specific exposures.

Yes, XLK can be held in retirement accounts such as IRAs or 401(k)s. It can be a suitable choice for investors seeking targeted exposure to the technology sector within their retirement portfolio.

XLK is managed by State Street Global Advisors. The fund seeks to replicate the performance of the Technology Select Sector Index by holding the same stocks in similar proportions as the index. Management involves periodic rebalancing to ensure that the ETF accurately reflects the index.

Key performance metrics for XLK include its net asset value (NAV), expense ratio, total return, and tracking error. NAV represents the per-share value of the ETF, the expense ratio indicates the cost of managing the fund, total return measures overall performance including dividends, and tracking error shows how closely XLK follows the Technology Select Sector Index.

XLK includes companies that are part of the technology sector of the S&P 500. This sector comprises firms involved in technology hardware, software, and IT services. Major holdings often include companies such as Apple, Microsoft, and NVIDIA.

Yes, investing in XLK carries risks such as sector risk and market risk. The technology sector can be highly volatile and sensitive to changes in technology trends, regulatory developments, and economic conditions. Additionally, individual companies within the sector can face risks related to innovation, competition, and cybersecurity.

Investors can purchase shares of XLK through a brokerage account, just like other stocks and ETFs. It is traded on the New York Stock Exchange (NYSE) under the ticker symbol "XLK."

XLK is designed to closely track the performance of the Technology Select Sector Index. Therefore, its performance should be very similar to that of the index, with minor variations due to tracking error and management fees.

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