SPDR NYSE Technology ETF (NYSEARCA:XNTK) Hits New 12-Month High – Still a Buy?

SPDR NYSE Technology ETF (NYSEARCA:XNTK) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $302.77 and last traded at $299.19, with a volume of 90382 shares changing hands. The stock had previously closed at $299.03.

SPDR NYSE Technology ETF Price Performance

The firm’s 50-day moving average is $269.51 and its 200-day moving average is $276.35. The company has a market capitalization of $1.71 billion, a P/E ratio of 31.16 and a beta of 1.33.

Hedge Funds Weigh In On SPDR NYSE Technology ETF

A number of hedge funds have recently modified their holdings of the company. CWM LLC boosted its position in shares of SPDR NYSE Technology ETF by 4.7% in the third quarter. CWM LLC now owns 875 shares of the company’s stock worth $238,000 after purchasing an additional 39 shares during the period. Kestra Advisory Services LLC boosted its position in shares of SPDR NYSE Technology ETF by 3.8% in the fourth quarter. Kestra Advisory Services LLC now owns 1,118 shares of the company’s stock worth $311,000 after purchasing an additional 41 shares during the period. MML Investors Services LLC boosted its position in shares of SPDR NYSE Technology ETF by 1.5% in the second quarter. MML Investors Services LLC now owns 3,088 shares of the company’s stock worth $733,000 after purchasing an additional 45 shares during the period. Realta Investment Advisors boosted its position in shares of SPDR NYSE Technology ETF by 41.7% in the fourth quarter. Realta Investment Advisors now owns 170 shares of the company’s stock worth $47,000 after purchasing an additional 50 shares during the period. Finally, SFG Wealth Management LLC. boosted its position in shares of SPDR NYSE Technology ETF by 0.4% in the third quarter. SFG Wealth Management LLC. now owns 11,755 shares of the company’s stock worth $3,200,000 after purchasing an additional 50 shares during the period.

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.