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

Shares of SPDR NYSE Technology ETF (NYSEARCA:XNTK) saw strong trading volume on Thursday . 62,881 shares traded hands during 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 Stock Performance

The company has a market capitalization of $777.53 million, a PE ratio of 28.85 and a beta of 1.27. The company’s fifty day moving average is $201.68 and its 200-day moving average is $203.97.

Hedge Funds Weigh In On SPDR NYSE Technology ETF

A number of hedge funds and other institutional investors have recently modified their holdings of XNTK. 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 acquiring an additional 100 shares during the last quarter. Concourse Financial Group Securities Inc. purchased a new position in shares of SPDR NYSE Technology ETF in the 4th quarter worth $54,000. Global Wealth Strategies & Associates bought a new stake in shares of SPDR NYSE Technology ETF in the 4th quarter worth about $81,000. Avior Wealth Management LLC bought a new position in shares of SPDR NYSE Technology ETF in the 4th quarter valued at about $89,000. Finally, Mascagni Wealth Management Inc. purchased a new position in SPDR NYSE Technology ETF in the fourth quarter worth about $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.