SPDR S&P China ETF (NYSEARCA:GXC) Trading Down 2.4% – Here’s Why

SPDR S&P China ETF (NYSEARCA:GXC) shares traded down 2.4% during trading on Tuesday . The company traded as low as $87.70 and last traded at $87.70. Approximately 26,451 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 28,915 shares. The stock had previously closed at $89.85.

SPDR S&P China ETF Stock Performance

The company has a market cap of $435.01 million, a price-to-earnings ratio of 12.97 and a beta of 0.34. The company has a fifty day moving average of $94.03 and a two-hundred day moving average of $96.77.

Institutional Trading of SPDR S&P China ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC boosted its position in SPDR S&P China ETF by 12.7% during the 1st quarter. Parallel Advisors LLC now owns 2,670 shares of the company’s stock worth $249,000 after buying an additional 300 shares during the period. First Trust Advisors LP increased its position in SPDR S&P China ETF by 28.1% in the 1st quarter. First Trust Advisors LP now owns 11,193 shares of the company’s stock valued at $1,042,000 after acquiring an additional 2,452 shares during the period. Assetmark Inc. increased its position in SPDR S&P China ETF by 0.8% in the 1st quarter. Assetmark Inc. now owns 221,133 shares of the company’s stock valued at $20,592,000 after acquiring an additional 1,660 shares during the period. Wealthfront Advisers LLC raised its stake in shares of SPDR S&P China ETF by 23.6% during the first quarter. Wealthfront Advisers LLC now owns 16,804 shares of the company’s stock valued at $1,565,000 after acquiring an additional 3,210 shares during the last quarter. Finally, Bleakley Financial Group LLC bought a new position in shares of SPDR S&P China ETF during the first quarter valued at $1,509,000.

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.