SPDR NYSE Technology ETF (NYSEARCA:XNTK) Sees Unusually-High Trading Volume – Should You Buy?

SPDR NYSE Technology ETF (NYSEARCA:XNTK) shares saw unusually-strong trading volume on Wednesday . Approximately 98,053 shares changed hands 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 Stock Down 0.0 %

The stock has a market capitalization of $764.80 million, a P/E ratio of 28.85 and a beta of 1.27. The firm’s 50-day simple moving average is $198.80 and its 200 day simple moving average is $203.44.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in XNTK. Janney Montgomery Scott LLC boosted its stake in shares of SPDR NYSE Technology ETF by 3.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 2,579 shares of the company’s stock worth $495,000 after acquiring an additional 82 shares in the last quarter. Harbour Investments Inc. increased its stake in SPDR NYSE Technology ETF by 138.9% in the 4th quarter. Harbour Investments Inc. now owns 172 shares of the company’s stock worth $35,000 after purchasing an additional 100 shares in the last quarter. Arkadios Wealth Advisors raised its holdings in SPDR NYSE Technology ETF by 4.0% during the 4th quarter. Arkadios Wealth Advisors now owns 2,837 shares of the company’s stock worth $573,000 after buying an additional 108 shares during the period. GeoWealth Management LLC boosted its holdings in shares of SPDR NYSE Technology ETF by 17.8% in the fourth quarter. GeoWealth Management LLC now owns 799 shares of the company’s stock worth $161,000 after buying an additional 121 shares during the period. Finally, FMR LLC increased its position in shares of SPDR NYSE Technology ETF by 15.2% in the third quarter. FMR LLC now owns 1,283 shares of the company’s stock worth $253,000 after acquiring an additional 169 shares in the last quarter.

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.