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

SPDR NYSE Technology ETF (NYSEARCA:XNTK)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $213.16 and last traded at $213.16, with a volume of 2027 shares trading hands. The stock had previously closed at $211.43.

SPDR NYSE Technology ETF Price Performance

The business’s fifty day simple moving average is $204.45 and its 200 day simple moving average is $195.21. The firm has a market capitalization of $901.52 million, a price-to-earnings ratio of 42.29 and a beta of 1.53.

Hedge Funds Weigh In On SPDR NYSE Technology ETF

A number of institutional investors have recently modified their holdings of XNTK. GoalVest Advisory LLC raised its holdings in shares of SPDR NYSE Technology ETF by 1,151.7% in the 2nd quarter. GoalVest Advisory LLC now owns 23,782 shares of the company’s stock worth $4,643,000 after acquiring an additional 21,882 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of SPDR NYSE Technology ETF by 297.5% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 18,786 shares of the company’s stock valued at $3,668,000 after purchasing an additional 14,060 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in SPDR NYSE Technology ETF by 17.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 79,674 shares of the company’s stock worth $15,557,000 after purchasing an additional 11,816 shares in the last quarter. Pinion Investment Advisors LLC purchased a new stake in SPDR NYSE Technology ETF in the 2nd quarter valued at about $2,200,000. Finally, Gentry Private Wealth LLC purchased a new position in shares of SPDR NYSE Technology ETF in the 2nd quarter worth approximately $1,743,000.

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.