SPDR S&P Kensho New Economies Composite ETF (NYSEARCA:KOMP) Sees Large Volume Increase – Should You Buy?

SPDR S&P Kensho New Economies Composite ETF (NYSEARCA:KOMP) shares saw unusually-strong trading volume on Monday . Approximately 267,643 shares traded hands during mid-day trading, an increase of 207% from the previous session’s volume of 87,148 shares.The stock last traded at $73.82 and had previously closed at $74.28.

SPDR S&P Kensho New Economies Composite ETF Price Performance

The stock has a 50 day simple moving average of $64.99 and a two-hundred day simple moving average of $63.15. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 20.26 and a beta of 1.30.

Hedge Funds Weigh In On SPDR S&P Kensho New Economies Composite ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in SPDR S&P Kensho New Economies Composite ETF by 2.7% during the first quarter. Bank of America Corp DE now owns 92,875 shares of the company’s stock worth $5,431,000 after buying an additional 2,440 shares during the last quarter. Parallel Advisors LLC boosted its stake in SPDR S&P Kensho New Economies Composite ETF by 3,987.0% during the first quarter. Parallel Advisors LLC now owns 940 shares of the company’s stock worth $55,000 after buying an additional 917 shares during the last quarter. Wealthfront Advisers LLC boosted its stake in SPDR S&P Kensho New Economies Composite ETF by 30.9% during the first quarter. Wealthfront Advisers LLC now owns 6,670 shares of the company’s stock worth $390,000 after buying an additional 1,576 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in SPDR S&P Kensho New Economies Composite ETF during the first quarter worth $184,000. Finally, Financial Guidance Group Inc. boosted its stake in SPDR S&P Kensho New Economies Composite ETF by 1.2% during the first quarter. Financial Guidance Group Inc. now owns 100,466 shares of the company’s stock worth $5,875,000 after buying an additional 1,189 shares during the last quarter.

About SPDR S&P Kensho New Economies Composite ETF

The SPDR S&P Kensho New Economies Composite ETF (KOMP) is an exchange-traded fund that is based on the S&P Kensho New Economies Composite index. The fund tracks a tier-weighted index of US-listed companies with products or services that disrupt traditional industries. KOMP was launched on Oct 22, 2018 and is managed by State Street.