SPDR NYSE Technology ETF (NYSEARCA:XNTK) Share Price Breaks Above 200 Day Moving Average – Here’s What Happened

SPDR NYSE Technology ETF (NYSEARCA:XNTK) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $330.44 and traded as high as $336.91. SPDR NYSE Technology ETF shares last traded at $332.38, with a volume of 85,610 shares.

SPDR NYSE Technology ETF Stock Performance

The stock has a market cap of $1.80 billion, a P/E ratio of 31.16 and a beta of 1.49. The company’s 50 day moving average price is $359.97 and its 200-day moving average price is $330.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Melone Private Wealth LLC bought a new position in shares of SPDR NYSE Technology ETF in the second quarter valued at approximately $66,253,000. AlTi Global Inc. increased its position in shares of SPDR NYSE Technology ETF by 15.0% during the third quarter. AlTi Global Inc. now owns 172,965 shares of the company’s stock valued at $66,106,000 after acquiring an additional 22,531 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in SPDR NYSE Technology ETF by 231.7% during the second quarter. Envestnet Asset Management Inc. now owns 164,791 shares of the company’s stock worth $64,376,000 after acquiring an additional 115,103 shares during the period. NorthRock Partners LLC bought a new stake in SPDR NYSE Technology ETF during the second quarter worth $64,063,000. Finally, State Street Corp purchased a new position in SPDR NYSE Technology ETF in the second quarter worth $41,031,000.

About SPDR NYSE Technology ETF

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.