SPDR NYSE Technology ETF (NYSEARCA:XNTK) Sees Unusually-High Trading Volume – Should You Buy?

SPDR NYSE Technology ETF (NYSEARCA:XNTK) saw an uptick in trading volume on Friday . 60,828 shares were traded during mid-day trading, an increase of 485% from the previous session’s volume of 10,405 shares.The stock last traded at $200.78 and had previously closed at $205.61.

SPDR NYSE Technology ETF Price Performance

The company has a market cap of $878.02 million, a price-to-earnings ratio of 42.29 and a beta of 1.53. The firm has a 50 day simple moving average of $206.55 and a 200-day simple moving average of $197.02.

Institutional Investors Weigh In On SPDR NYSE Technology ETF

A number of institutional investors have recently made changes to their positions in XNTK. Global Wealth Strategies & Associates purchased a new stake in shares of SPDR NYSE Technology ETF in the 4th quarter valued at $81,000. Fortitude Family Office LLC purchased a new stake in SPDR NYSE Technology ETF during the fourth quarter worth about $202,000. Apollon Financial LLC purchased a new stake in SPDR NYSE Technology ETF during the third quarter worth about $200,000. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of SPDR NYSE Technology ETF during the second quarter worth about $205,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of SPDR NYSE Technology ETF in the third quarter valued at approximately $242,000.

SPDR NYSE Technology ETF Company Profile

SPDR Morgan Stanley Technology ETF (the Fund) seeks to closely match the returns and characteristics of the Morgan Stanley Technology Index. The Morgan Stanley Technology Index is composed purely of electronics-based technology companies. The Technology Index comprises companies drawn from the following technology sub-sectors: computer services; design software; server software, personal computer (PC) software and new media; networking and telecom equipment; server hardware, PC hardware and peripherals; specialized systems, and semiconductors.