SPDR S&P Software & Services ETF (NYSEARCA:XSW) Shares Up 1.2% – Here’s Why

SPDR S&P Software & Services ETF (NYSEARCA:XSW) shot up 1.2% on Wednesday. The stock traded as high as $196.14 and last traded at $194.54. Approximately 37,499 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 74,199 shares. The stock had previously closed at $192.29.

SPDR S&P Software & Services ETF Price Performance

The firm has a market capitalization of $498.27 million, a PE ratio of 30.29 and a beta of 1.17. The company has a 50-day moving average price of $196.66 and a 200-day moving average price of $173.34.

Institutional Trading of SPDR S&P Software & Services ETF

A number of hedge funds have recently added to or reduced their stakes in XSW. Compass Financial Management LLC purchased a new position in shares of SPDR S&P Software & Services ETF in the 2nd quarter worth $591,000. Vertex Investment Solutions Co. Ltd. acquired a new stake in SPDR S&P Software & Services ETF during the second quarter worth about $308,000. Warner Financial Inc. acquired a new stake in SPDR S&P Software & Services ETF during the second quarter worth about $330,000. Arkadios Wealth Advisors raised its holdings in shares of SPDR S&P Software & Services ETF by 7.0% in the 1st quarter. Arkadios Wealth Advisors now owns 1,534 shares of the company’s stock worth $218,000 after purchasing an additional 100 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of SPDR S&P Software & Services ETF by 300.9% in the 1st quarter. Royal Bank of Canada now owns 24,558 shares of the company’s stock worth $3,495,000 after purchasing an additional 18,433 shares during the period.

About SPDR S&P Software & Services ETF

The SPDR S&P Software & Services ETF (XSW) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an equal-weighted index of software & services companies, as defined by GICS. XSW was launched on Sep 28, 2011 and is managed by State Street.