SPDR S&P China ETF (NYSEARCA:GXC) Stock Price Down 1.3% – Time to Sell?

SPDR S&P China ETF (NYSEARCA:GXC) shares dropped 1.3% on Wednesday. The company traded as low as $82.72 and last traded at $82.99. 15,759 shares were traded during trading, a decline of 40% from the average session volume of 26,248 shares. The stock had previously closed at $84.12.

SPDR S&P China ETF Stock Performance

The stock’s fifty day simple moving average is $88.06 and its two-hundred day simple moving average is $90.70. The stock has a market capitalization of $435.70 million, a P/E ratio of 12.97 and a beta of 0.35.

Hedge Funds Weigh In On SPDR S&P China ETF

A number of hedge funds have recently modified their holdings of GXC. State Street Corp lifted its holdings in shares of SPDR S&P China ETF by 29.0% during the second quarter. State Street Corp now owns 571,688 shares of the company’s stock worth $49,462,000 after purchasing an additional 128,618 shares during the period. Bleakley Financial Group LLC acquired a new stake in SPDR S&P China ETF in the first quarter valued at $1,509,000. Prism Advisors Inc. increased its holdings in SPDR S&P China ETF by 4.2% in the first quarter. Prism Advisors Inc. now owns 98,413 shares of the company’s stock valued at $9,164,000 after purchasing an additional 4,012 shares during the period. Wealthfront Advisers LLC increased its holdings in SPDR S&P China ETF by 23.6% in the first quarter. Wealthfront Advisers LLC now owns 16,804 shares of the company’s stock valued at $1,565,000 after purchasing an additional 3,210 shares during the period. Finally, Osborne Partners Capital Management LLC increased its holdings in SPDR S&P China ETF by 1.5% in the first quarter. Osborne Partners Capital Management LLC now owns 195,364 shares of the company’s stock valued at $18,192,000 after purchasing an additional 2,832 shares during the period.

SPDR S&P China ETF Company Profile

SPDR S&P China ETF (the Fund) seeks to replicate as closely as possible the total return performance of the S&P/Citigroup BMI China Index (the Index). The Index is a market capitalization-weighted index that defines and measures the investable universe of publicly traded companies domiciled in China, but legally available to foreign investors. The Index is float adjusted, meaning that only those shares publicly available to investors are included in the Index calculation. The Fund uses a passive management strategy designed to track the price and yield performance of the Index.