First Trust Expanded Technology ETF (NYSEARCA:XPND) Stock Price Breaks Below 200 Day Moving Average – Here’s Why

First Trust Expanded Technology ETF (NYSEARCA:XPND) passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $37.70 and traded as low as $36.31. First Trust Expanded Technology ETF shares last traded at $36.71, with a volume of 6,060 shares traded.

First Trust Expanded Technology ETF Trading Down 4.1%

The stock has a market capitalization of $36.71 million, a PE ratio of 32.72 and a beta of 1.26. The company’s 50 day simple moving average is $39.29 and its 200 day simple moving average is $37.70.

Institutional Investors Weigh In On First Trust Expanded Technology ETF

Several hedge funds have recently made changes to their positions in XPND. Bullseye Investment Management LLC acquired a new stake in shares of First Trust Expanded Technology ETF during the second quarter worth $759,000. Citadel Advisors LLC increased its stake in First Trust Expanded Technology ETF by 51.5% in the second quarter. Citadel Advisors LLC now owns 23,441 shares of the company’s stock valued at $981,000 after purchasing an additional 7,965 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new position in First Trust Expanded Technology ETF in the second quarter valued at $245,000. Sanctuary Advisors LLC lifted its position in First Trust Expanded Technology ETF by 8.9% during the first quarter. Sanctuary Advisors LLC now owns 10,579 shares of the company’s stock worth $347,000 after buying an additional 869 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in First Trust Expanded Technology ETF by 2.0% during the second quarter. Envestnet Asset Management Inc. now owns 13,407 shares of the company’s stock worth $561,000 after buying an additional 263 shares during the period.

First Trust Expanded Technology ETF Company Profile

The First Trust Expanded Technology ETF (XPND) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund actively invests in US stocks whose businesses are derived from or dependent on technology. XPND was launched on Jun 14, 2021 and is managed by First Trust.