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

Shares of SPDR NYSE Technology ETF (NYSEARCA:XNTK) saw strong trading volume on Thursday . 182,623 shares changed hands during 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 Trading Down 6.5 %

The company has a market cap of $784.45 million, a price-to-earnings ratio of 28.85 and a beta of 1.27. The stock has a 50 day moving average price of $208.24 and a two-hundred day moving average price of $205.03.

SPDR NYSE Technology ETF Cuts Dividend

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

Hedge Funds Weigh In On SPDR NYSE Technology ETF

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