SPDR NYSE Technology ETF (NYSEARCA:XNTK) Reaches New 52-Week High – Still a Buy?

SPDR NYSE Technology ETF (NYSEARCA:XNTK)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $324.18 and last traded at $322.85, with a volume of 54091 shares trading hands. The stock had previously closed at $315.92.

SPDR NYSE Technology ETF Price Performance

The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 31.16 and a beta of 1.41. The firm has a 50 day simple moving average of $278.66 and a 200-day simple moving average of $278.85.

Institutional Investors Weigh In On SPDR NYSE Technology ETF

A number of hedge funds have recently made changes to their positions in XNTK. Auto Owners Insurance Co boosted its position in SPDR NYSE Technology ETF by 30,856.8% in the fourth quarter. Auto Owners Insurance Co now owns 404,760,008 shares of the company’s stock valued at $112,474,711,000 after buying an additional 403,452,508 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of SPDR NYSE Technology ETF during the first quarter worth approximately $67,526,000. Keystone Wealth Services LLC acquired a new stake in shares of SPDR NYSE Technology ETF during the fourth quarter worth approximately $51,033,000. AlTi Global Inc. raised its stake in shares of SPDR NYSE Technology ETF by 697.7% in the first quarter. AlTi Global Inc. now owns 106,824 shares of the company’s stock valued at $27,270,000 after acquiring an additional 93,433 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of SPDR NYSE Technology ETF by 35.1% in the fourth quarter. Wells Fargo & Company MN now owns 193,410 shares of the company’s stock valued at $53,745,000 after acquiring an additional 50,254 shares during the last quarter.

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.