SPDR NYSE Technology ETF (NYSEARCA:XNTK) Shares Gap Down – What’s Next?

SPDR NYSE Technology ETF (NYSEARCA:XNTK) gapped down before the market opened on Thursday . The stock had previously closed at $390.65, but opened at $377.15. SPDR NYSE Technology ETF shares last traded at $378.03, with a volume of 3,214 shares.

SPDR NYSE Technology ETF Stock Performance

The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 31.16 and a beta of 1.43. The company has a 50-day moving average price of $351.83 and a 200-day moving average price of $301.64.

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 the business. Royal Bank of Canada increased its stake in SPDR NYSE Technology ETF by 52.6% in the first quarter. Royal Bank of Canada now owns 19,737 shares of the company’s stock valued at $3,786,000 after purchasing an additional 6,800 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of SPDR NYSE Technology ETF by 351.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 149 shares of the company’s stock valued at $35,000 after buying an additional 116 shares in the last quarter. Quantinno Capital Management LP acquired a new position in shares of SPDR NYSE Technology ETF in the 2nd quarter valued at $303,000. Raymond James Financial Inc. grew its position in shares of SPDR NYSE Technology ETF by 17.6% in the 2nd quarter. Raymond James Financial Inc. now owns 8,899 shares of the company’s stock valued at $2,112,000 after buying an additional 1,333 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of SPDR NYSE Technology ETF by 3.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 39,182 shares of the company’s stock valued at $9,295,000 after buying an additional 1,353 shares during 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.