SPDR S&P China ETF Experiences Notable Decrease in Opening Market Price

The SPDR S&P China ETF, trading on the NYSE Arca under the symbol GXC, saw its shares fall significantly at market opening on a recent Friday. Prior to the opening bell, the shares were valued at $66.89 but dropped to an opening price of $65.02. During the trading session, the exchange-traded fund (ETF) saw its shares slightly recover, changing hands at $65.38 with a trading volume of 17,905 shares.

Market Capitalization and Stock Indicators

SPDR S&P China ETF currently holds a market capitalization of approximately $958.99 million, bearing a price-to-earnings (PE) ratio of 9.39 and a beta coefficient of 0.50, indicating lower volatility compared to the broader market. The fund's short-term and long-term performance can be assessed through its simple moving averages, with the 50-day average at $69.68 and the 200-day average at $72.70.

Investment Actions by Institutional Investors

A number of noteworthy changes have taken place within institutional investors' portfolios. For instance, Sharper & Granite LLC boosted its investments in the ETF by 7.3% during the second quarter, now holding 3,295 shares valued at around $243,000. Another firm, Commonwealth Equity Services LLC, increased its stake by 5.1% in the first quarter, currently owning 5,071 shares with an estimated worth of $417,000. Additional investments were made by Envestnet Asset Management Inc., which elevated its holdings by 0.9% in the first quarter to 32,293 shares valued at $2,658,000. During the third quarter, Osborne Partners Capital Management LLC slightly raised its share count by 0.3%, owning 146,825 shares valued at $10,505,000. A new investment was made by Qube Research & Technologies Ltd, which acquired a stake in the ETF valued at about $39,000 in the third quarter.

About SPDR S&P China ETF

SPDR S&P China ETF is designed to replicate, as closely as possible, the total return performance of the S&P/Citigroup BMI China Index. This index is a market capitalization-weighted index, identifying and measuring the scope of publicly traded Chinese companies that are legally accessible to foreign investors.

ETF, China, Stock