SPDR FactSet Innovative Technology ETF (NYSEARCA:XITK) Stock Price Down 6.8% – Here’s What Happened

SPDR FactSet Innovative Technology ETF (NYSEARCA:XITK)’s share price traded down 6.8% during trading on Thursday. The stock traded as low as $175.51 and last traded at $175.51. 1,043 shares traded hands during trading, a decline of 49% from the average session volume of 2,047 shares. The stock had previously closed at $188.28.

SPDR FactSet Innovative Technology ETF Trading Down 6.8%

The company has a market capitalization of $59.67 million, a P/E ratio of 27.20 and a beta of 1.35. The business’s 50-day simple moving average is $196.66 and its 200 day simple moving average is $180.95.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC bought a new position in SPDR FactSet Innovative Technology ETF during the 2nd quarter valued at $485,000. Commonwealth Equity Services LLC acquired a new position in shares of SPDR FactSet Innovative Technology ETF during the 3rd quarter valued at $548,000. Kaizen Financial Strategies increased its position in shares of SPDR FactSet Innovative Technology ETF by 4.5% during the 3rd quarter. Kaizen Financial Strategies now owns 3,464 shares of the company’s stock valued at $690,000 after purchasing an additional 150 shares during the period. Kwmg LLC acquired a new position in shares of SPDR FactSet Innovative Technology ETF during the 3rd quarter valued at $872,000. Finally, Avior Wealth Management LLC bought a new stake in shares of SPDR FactSet Innovative Technology ETF in the 3rd quarter worth $1,182,000.

SPDR FactSet Innovative Technology ETF Company Profile

The SPDR FactSet Innovative Technology ETF (XITK) is an exchange-traded fund that is based on the FactSet Innovative Technology index. The fund tracks an index composed of US-listed technology and electronic media companies deemed innovative or disruptive by FactSet. XITK was launched on Jan 13, 2016 and is managed by State Street.