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

SPDR S&P Telecom ETF (NYSEARCA:XTL) shares saw unusually-high 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 market capitalization of $577.18 million, a PE ratio of 17.49 and a beta of 1.16. The firm’s 50-day simple moving average is $216.36 and its 200 day simple moving average is $208.23.

Institutional Trading of SPDR S&P Telecom ETF

Institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its position in SPDR S&P Telecom ETF by 5.0% during the first quarter. Goldman Sachs Group Inc. now owns 57,765 shares of the company’s stock worth $5,774,000 after buying an additional 2,771 shares during the period. Envestnet Asset Management Inc. acquired a new stake in shares of SPDR S&P Telecom ETF in the 2nd quarter worth approximately $200,000. Raymond James Financial Inc. increased its stake in SPDR S&P Telecom ETF by 2.5% in the 2nd quarter. Raymond James Financial Inc. now owns 33,485 shares of the company’s stock valued at $3,928,000 after purchasing an additional 805 shares in the last quarter. Bank of America Corp DE increased its stake in SPDR S&P Telecom ETF by 48.8% in the 3rd quarter. Bank of America Corp DE now owns 64,804 shares of the company’s stock valued at $9,067,000 after purchasing an additional 21,242 shares in the last quarter. Finally, Susquehanna International Group LLP acquired a new position in SPDR S&P Telecom ETF during the third quarter worth $2,387,000.

About SPDR S&P Telecom ETF

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.