SPDR NYSE Technology ETF (NYSEARCA:XNTK) Sees Unusually-High Trading Volume – Time to Buy?

SPDR NYSE Technology ETF (NYSEARCA:XNTK) saw strong trading volume on Friday . 60,828 shares were traded during 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 firm has a market capitalization of $878.02 million, a P/E ratio of 42.29 and a beta of 1.53. The stock’s fifty day simple moving average is $206.55 and its 200 day simple moving average is $197.02.

Institutional Investors Weigh In On SPDR NYSE Technology ETF

Several institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. grew its holdings in shares of SPDR NYSE Technology ETF by 18.3% during the second quarter. Envestnet Asset Management Inc. now owns 14,084 shares of the company’s stock valued at $2,750,000 after buying an additional 2,178 shares during the last quarter. Pinion Investment Advisors LLC acquired a new position in shares of SPDR NYSE Technology ETF in the second quarter valued at about $2,200,000. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of SPDR NYSE Technology ETF in the second quarter worth about $205,000. Goodman Advisory Group LLC lifted its holdings in shares of SPDR NYSE Technology ETF by 4.2% during the second quarter. Goodman Advisory Group LLC now owns 4,346 shares of the company’s stock worth $849,000 after purchasing an additional 176 shares during the period. Finally, Silver Lake Advisory LLC purchased a new stake in SPDR NYSE Technology ETF in the second quarter valued at approximately $560,000.

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.