SPDR NYSE Technology ETF (NYSEARCA:XNTK) Sees Large Volume Increase – Still a Buy?

SPDR NYSE Technology ETF (NYSEARCA:XNTK) shares saw unusually-strong trading volume on Wednesday . Approximately 98,053 shares were traded during trading, an increase of 238% from the previous session’s volume of 28,986 shares.The stock last traded at $179.70 and had previously closed at $183.61.

SPDR NYSE Technology ETF Price Performance

The firm has a market cap of $774.71 million, a price-to-earnings ratio of 28.85 and a beta of 1.27. The company’s 50 day simple moving average is $200.37 and its 200 day simple moving average is $203.75.

Hedge Funds Weigh In On SPDR NYSE Technology ETF

A number of institutional investors and hedge funds have recently made changes to their positions in XNTK. FMR LLC raised its holdings in shares of SPDR NYSE Technology ETF by 15.2% in the 3rd quarter. FMR LLC now owns 1,283 shares of the company’s stock valued at $253,000 after purchasing an additional 169 shares in the last quarter. LPL Financial LLC increased its holdings in shares of SPDR NYSE Technology ETF by 33.7% in the 4th quarter. LPL Financial LLC now owns 188,857 shares of the company’s stock valued at $38,115,000 after acquiring an additional 47,620 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of SPDR NYSE Technology ETF by 13.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,395 shares of the company’s stock worth $276,000 after acquiring an additional 170 shares in the last quarter. Raymond James Financial Inc. acquired a new position in SPDR NYSE Technology ETF in the fourth quarter valued at approximately $1,538,000. Finally, Jones Financial Companies Lllp raised its holdings in SPDR NYSE Technology ETF by 21.7% during the fourth quarter. Jones Financial Companies Lllp now owns 949 shares of the company’s stock worth $191,000 after purchasing an additional 169 shares in the last quarter.

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.