SPDR S&P Fossil Fuel Reserves Free ETF (NYSEARCA:SPYX) Sees Large Volume Increase – Should You Buy?

Shares of SPDR S&P Fossil Fuel Reserves Free ETF (NYSEARCA:SPYX) saw strong trading volume on Thursday . Approximately 417,573 shares changed hands during trading, an increase of 215% from the previous session’s volume of 132,391 shares.The stock last traded at $60.50 and had previously closed at $59.94.

SPDR S&P Fossil Fuel Reserves Free ETF Price Performance

The stock has a 50-day moving average of $61.06 and a 200-day moving average of $58.11. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 26.26 and a beta of 1.01.

Hedge Funds Weigh In On SPDR S&P Fossil Fuel Reserves Free ETF

Several hedge funds have recently bought and sold shares of SPYX. Optima Capital LLC bought a new position in shares of SPDR S&P Fossil Fuel Reserves Free ETF in the fourth quarter worth about $31,000. Advisory Services Network LLC bought a new stake in SPDR S&P Fossil Fuel Reserves Free ETF in the third quarter worth approximately $55,000. Palisade Asset Management LLC acquired a new stake in shares of SPDR S&P Fossil Fuel Reserves Free ETF during the 3rd quarter worth approximately $55,000. Oak Harbor Wealth Partners LLC acquired a new stake in shares of SPDR S&P Fossil Fuel Reserves Free ETF during the 4th quarter worth approximately $56,000. Finally, Private Trust Co. NA increased its stake in shares of SPDR S&P Fossil Fuel Reserves Free ETF by 162.4% in the 4th quarter. Private Trust Co. NA now owns 1,236 shares of the company’s stock valued at $69,000 after acquiring an additional 765 shares in the last quarter.

About SPDR S&P Fossil Fuel Reserves Free ETF

The SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) is an exchange-traded fund that is based on the S&P 500 Fossil Fuel Free index. The fund follows an S&P 500- based index excluding companies with known fossil fuel reserves. SPYX was launched on Nov 30, 2015 and is managed by State Street.