Technology Sector Wrap

Markets FOXBusiness

While the S&P 500 grew 0.2%, the Technology sector (XLK) showed little movement during trading today.

Continue Reading Below

The ETF, as a proxy for the sector, tracked closer to the overall market today than over the past month. Entering today's trading, XLK was down 3.5% over the last thirty trading days while the S&P 500 climbed -0.7%.

Universal Display Corporation (PANL) declined 10.3% to close at $35.11, moving below its 50-day moving average of $38.97 and 200-day moving average of $41.20.

Virtusa Corporation (VRTU) rose 17.1% to close at $14.67, approaching its 50-day moving average of $15.27. It has also moved closer to its 200-day moving average of $15.34.

Cisco Systems (CSCO) was a major loser in the sector, falling 10.5% (-$1.97) to close at $16.81 with 197.4 million shares moving. The stock traded between $16.76 and $17.32. Shares are down over the last two months as the price has dropped $3.41 (-16.9%) from a price of $20.22 on March 13, 2012.

Proto Labs (PRLB) was a major gainer in the sector, rising 8.2% (+$2.44) to close at $32.15 with 140,894 shares moving. The stock traded in a range of $29.70 to $33.21.

Continue Reading Below

DealerTrack Holdings (TRAK) hit a new 52-week high today, reaching $31.98 to top the previous high of $31.90.

Windstream (WIN) hit a new 52-week low today, hitting $9.42 to fall below the previous low of $10.76.

What do you think?

Click the button below to comment on this article.