SPDR S&P Telecom ETF (NYSEARCA:XTL) Sees Large Volume Increase – Still a Buy?

SPDR S&P Telecom ETF (NYSEARCA:XTL) shares saw strong trading volume on Friday . 403,699 shares changed hands during trading, an increase of 433% from the previous session’s volume of 75,807 shares.The stock last traded at $212.26 and had previously closed at $211.29.

SPDR S&P Telecom ETF Stock Performance

The company has a 50 day simple moving average of $215.99 and a two-hundred day simple moving average of $208.26. The firm has a market cap of $578.44 million, a PE ratio of 17.49 and a beta of 1.16.

Hedge Funds Weigh In On SPDR S&P Telecom ETF

Several hedge funds and other institutional investors have recently bought and sold shares of XTL. Pacific Sun Financial Corp lifted its stake in SPDR S&P Telecom ETF by 1.8% during the 1st quarter. Pacific Sun Financial Corp now owns 2,790 shares of the company’s stock valued at $525,000 after acquiring an additional 50 shares during the period. Cetera Investment Advisers increased its stake in shares of SPDR S&P Telecom ETF by 0.3% in the fourth quarter. Cetera Investment Advisers now owns 37,694 shares of the company’s stock worth $5,775,000 after acquiring an additional 115 shares during the period. Goldman Sachs Group Inc. grew its position in SPDR S&P Telecom ETF by 0.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 25,139 shares of the company’s stock worth $3,852,000 after purchasing an additional 137 shares during the period. Avior Wealth Management LLC raised its stake in shares of SPDR S&P Telecom ETF by 6.1% during the 2nd quarter. Avior Wealth Management LLC now owns 3,616 shares of the company’s stock valued at $823,000 after buying an additional 209 shares during the last quarter. Finally, MML Investors Services LLC raised its stake in shares of SPDR S&P Telecom ETF by 10.4% during the 4th quarter. MML Investors Services LLC now owns 2,551 shares of the company’s stock valued at $391,000 after buying an additional 241 shares during the last quarter.

SPDR S&P Telecom ETF Company Profile

The SPDR S&P Telecom ETF (XTL) is an exchange-traded fund that is based on the S&P Telecom Select Industry index. The fund tracks an equal-weighted index of US telecom companies selected by the S&P Committee. XTL was launched on Jan 26, 2011 and is managed by State Street.