Sector Update: Tech

Tech stocks were gaining late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) adding 1.1% and the SPDR S&P Semiconductor ETF (XSD) rising 2%.

The Philadelphia Semiconductor index advanced 1.9%.

In corporate news, activist investor Jana Partners urged Wolfspeed WOLF to explore ways to improve shareholder value, including a potential sale, Reuters reported Monday citing a letter it reviewed. Wolfspeed shares jumped 8.5%.