SPDR NYSE Technology ETF (NYSEARCA:XNTK) Shares Gap Down – Here’s Why

SPDR NYSE Technology ETF (NYSEARCA:XNTK) gapped down prior to trading 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 trading hands.

SPDR NYSE Technology ETF Stock Down 2.9%

The firm has a fifty day simple moving average of $351.83 and a 200-day simple moving average of $301.64. The company has a market cap of $2.20 billion, a PE ratio of 31.16 and a beta of 1.43.

Institutional Trading of SPDR NYSE Technology ETF

Large investors have recently made changes to their positions in the company. Auto Owners Insurance Co increased its position in SPDR NYSE Technology ETF by 30,856.8% during the fourth quarter. Auto Owners Insurance Co now owns 404,760,008 shares of the company’s stock worth $112,474,711,000 after buying an additional 403,452,508 shares during the period. Global Assets Advisory LLC acquired a new stake in shares of SPDR NYSE Technology ETF in the first quarter valued at approximately $67,526,000. LPL Financial LLC boosted its holdings in shares of SPDR NYSE Technology ETF by 23.6% in the fourth quarter. LPL Financial LLC now owns 254,253 shares of the company’s stock valued at $70,652,000 after acquiring an additional 48,595 shares during the period. Wells Fargo & Company MN grew its position in shares of SPDR NYSE Technology ETF by 35.1% during the fourth quarter. Wells Fargo & Company MN now owns 193,410 shares of the company’s stock worth $53,745,000 after acquiring an additional 50,254 shares during the last quarter. Finally, Keystone Wealth Services LLC purchased a new position in shares of SPDR NYSE Technology ETF during the fourth quarter worth approximately $51,033,000.

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.