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

SPDR NYSE Technology ETF (NYSEARCA:XNTK) shares saw unusually-strong trading volume on Thursday . Approximately 182,623 shares traded hands during mid-day trading, an increase of 824% from the previous session’s volume of 19,766 shares.The stock last traded at $183.82 and had previously closed at $195.17.

SPDR NYSE Technology ETF Price Performance

The firm has a market cap of $727.90 million, a price-to-earnings ratio of 28.85 and a beta of 1.27. The firm’s fifty day moving average is $206.65 and its 200-day moving average is $204.75.

SPDR NYSE Technology ETF Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, March 26th. Shareholders of record on Monday, March 24th were issued a $0.1046 dividend. The ex-dividend date was Monday, March 24th.

Hedge Funds Weigh In On SPDR NYSE Technology ETF

A number of institutional investors and hedge funds have recently modified their holdings of XNTK. Harbour Investments Inc. lifted its position in shares of SPDR NYSE Technology ETF by 138.9% during the 4th quarter. Harbour Investments Inc. now owns 172 shares of the company’s stock valued at $35,000 after acquiring an additional 100 shares during the period. Concourse Financial Group Securities Inc. bought a new stake in SPDR NYSE Technology ETF in the fourth quarter valued at $54,000. Global Wealth Strategies & Associates acquired a new position in shares of SPDR NYSE Technology ETF during the fourth quarter valued at about $81,000. Avior Wealth Management LLC bought a new position in shares of SPDR NYSE Technology ETF during the 4th quarter worth about $89,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of SPDR NYSE Technology ETF in the 4th quarter valued at 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.