SPDR NYSE Technology ETF (NYSEARCA:XNTK) Sees Large Volume Increase – Time to Buy?

Shares of SPDR NYSE Technology ETF (NYSEARCA:XNTK) saw unusually-strong trading volume on Tuesday . Approximately 12,241 shares were traded during mid-day trading, a decline of 26% from the previous session’s volume of 16,649 shares.The stock last traded at $208.40 and had previously closed at $206.97.

SPDR NYSE Technology ETF Price Performance

The company has a fifty day moving average price of $207.60 and a two-hundred day moving average price of $197.75. The firm has a market cap of $913.77 million, a price-to-earnings ratio of 42.29 and a beta of 1.53.

Institutional Trading of SPDR NYSE Technology ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in XNTK. Global Wealth Strategies & Associates bought a new stake in shares of SPDR NYSE Technology ETF during the 4th quarter worth $81,000. Avior Wealth Management LLC acquired a new position in shares of SPDR NYSE Technology ETF in the 4th quarter valued at $89,000. Apollon Financial LLC purchased a new position in SPDR NYSE Technology ETF in the 3rd quarter worth about $200,000. Fortitude Family Office LLC acquired a new stake in SPDR NYSE Technology ETF during the 4th quarter worth about $202,000. Finally, VAUGHAN & Co SECURITIES INC. purchased a new stake in SPDR NYSE Technology ETF during the fourth quarter valued at about $202,000.

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.