SPDR NYSE Technology ETF (NYSEARCA:XNTK) Sees Unusually-High Trading Volume – What’s Next?

Shares of SPDR NYSE Technology ETF (NYSEARCA:XNTK) saw an uptick in trading volume on Thursday . 62,881 shares traded hands during mid-day trading, an increase of 291% from the previous session’s volume of 16,074 shares.The stock last traded at $174.70 and had previously closed at $186.89.

SPDR NYSE Technology ETF Trading Down 4.5 %

The firm has a market cap of $767.34 million, a PE ratio of 28.85 and a beta of 1.27. The stock has a fifty day simple moving average of $203.02 and a two-hundred day simple moving average of $204.20.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in XNTK. Harbour Investments Inc. boosted its stake in SPDR NYSE Technology ETF by 138.9% during the fourth quarter. Harbour Investments Inc. now owns 172 shares of the company’s stock valued at $35,000 after buying an additional 100 shares during the period. Concourse Financial Group Securities Inc. purchased a new stake in shares of SPDR NYSE Technology ETF in the 4th quarter valued at about $54,000. Global Wealth Strategies & Associates bought a new stake in shares of SPDR NYSE Technology ETF during the 4th quarter valued at about $81,000. Avior Wealth Management LLC purchased a new position in shares of SPDR NYSE Technology ETF during the fourth quarter worth about $89,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of SPDR NYSE Technology ETF in the fourth quarter worth approximately $93,000.

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.