01:34 PM EDT, 05/28/2024 (MT Newswires) -- Tech stocks were higher Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.5% and the SPDR S&P Semiconductor ETF (XSD) climbing 1.8%.

The Philadelphia Semiconductor index rose 2.2%.

In corporate news, Elliott Investment Management has made a $2.5 billion investment in Texas Instruments ( TXN ) and is urging the company to improve its free cash flow, the activist hedge fund said Tuesday. Texas Instruments ( TXN ) shares added 0.4%.