Goldman Sachs Future Tech Leaders Equity ETF (NYSEARCA:GTEK) Stock Price Down 0.8% – Should You Sell?

Goldman Sachs Future Tech Leaders Equity ETF (NYSEARCA:GTEK) dropped 0.8% during mid-day trading on Wednesday . The company traded as low as $57.47 and last traded at $57.47. Approximately 11,532 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 22,013 shares. The stock had previously closed at $57.91.

Goldman Sachs Future Tech Leaders Equity ETF Price Performance

The company has a market capitalization of $241.37 million, a price-to-earnings ratio of 31.43 and a beta of 1.41. The business’s 50-day moving average price is $58.16 and its two-hundred day moving average price is $50.02.

Hedge Funds Weigh In On Goldman Sachs Future Tech Leaders Equity ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in Goldman Sachs Future Tech Leaders Equity ETF by 101.5% during the first quarter. Royal Bank of Canada now owns 2,015 shares of the company’s stock worth $82,000 after purchasing an additional 1,015 shares during the period. NewEdge Advisors LLC acquired a new stake in Goldman Sachs Future Tech Leaders Equity ETF during the third quarter worth about $134,000. Fifth Third Bancorp bought a new position in Goldman Sachs Future Tech Leaders Equity ETF in the 1st quarter valued at about $170,000. Mercer Global Advisors Inc. ADV bought a new position in Goldman Sachs Future Tech Leaders Equity ETF in the 4th quarter valued at about $280,000. Finally, CWM LLC raised its position in shares of Goldman Sachs Future Tech Leaders Equity ETF by 21.8% in the 4th quarter. CWM LLC now owns 12,331 shares of the company’s stock valued at $493,000 after buying an additional 2,208 shares in the last quarter.

About Goldman Sachs Future Tech Leaders Equity ETF

The Goldman Sachs Future Tech Leaders Equity ETF (GTEK) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund actively invests in potentially growing technology companies that are believed to drive tech innovation around the world. GTEK was launched on Sep 14, 2021 and is managed by Goldman Sachs.