SPDR NYSE Technology ETF (NYSEARCA:XNTK) Sees Large Volume Increase – What’s Next?

SPDR NYSE Technology ETF (NYSEARCA:XNTK) saw unusually-high trading volume on Friday . Approximately 60,828 shares were traded during mid-day trading, an increase of 485% from the previous session’s volume of 10,405 shares.The stock last traded at $200.78 and had previously closed at $205.61.

SPDR NYSE Technology ETF Price Performance

The company’s fifty day moving average price is $206.46 and its 200 day moving average price is $196.93. The company has a market cap of $882.68 million, a PE ratio of 42.29 and a beta of 1.53.

Hedge Funds Weigh In On SPDR NYSE Technology ETF

Institutional investors have recently added to or reduced their stakes in the stock. Global Wealth Strategies & Associates bought a new position in SPDR NYSE Technology ETF during the fourth quarter valued at about $81,000. Apollon Financial LLC bought a new position in SPDR NYSE Technology ETF during the third quarter valued at about $200,000. Fortitude Family Office LLC bought a new position in SPDR NYSE Technology ETF during the fourth quarter worth about $202,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in SPDR NYSE Technology ETF during the second quarter worth about $205,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in SPDR NYSE Technology ETF during the third quarter worth about $242,000.

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.