SPDR NYSE Technology ETF (NYSEARCA:XNTK) Sets New 1-Year High – Here’s Why

Shares of SPDR NYSE Technology ETF (NYSEARCA:XNTK) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $364.12 and last traded at $359.50, with a volume of 73330 shares. The stock had previously closed at $360.56.

SPDR NYSE Technology ETF Stock Performance

The firm has a market capitalization of $2.15 billion, a P/E ratio of 31.16 and a beta of 1.41. The business has a fifty day moving average of $303.62 and a 200-day moving average of $285.65.

Hedge Funds Weigh In On SPDR NYSE Technology ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XNTK. Royal Bank of Canada grew its holdings in SPDR NYSE Technology ETF by 52.6% in the 1st quarter. Royal Bank of Canada now owns 19,737 shares of the company’s stock worth $3,786,000 after buying an additional 6,800 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in SPDR NYSE Technology ETF by 351.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 149 shares of the company’s stock valued at $35,000 after purchasing an additional 116 shares in the last quarter. Quantinno Capital Management LP bought a new position in SPDR NYSE Technology ETF during the 2nd quarter valued at $303,000. Raymond James Financial Inc. boosted its stake in SPDR NYSE Technology ETF by 17.6% during the 2nd quarter. Raymond James Financial Inc. now owns 8,899 shares of the company’s stock valued at $2,112,000 after purchasing an additional 1,333 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in SPDR NYSE Technology ETF by 3.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 39,182 shares of the company’s stock valued at $9,295,000 after purchasing an additional 1,353 shares in the last quarter.

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.