Goldman Sachs Future Tech Leaders Equity ETF (NYSEARCA:GTEK) Trading Down 0.6% – Should You Sell?

Goldman Sachs Future Tech Leaders Equity ETF (NYSEARCA:GTEK) shares fell 0.6% during trading on Tuesday . The company traded as low as $32.77 and last traded at $32.87. 6,694 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 13,018 shares. The stock had previously closed at $33.07.

Goldman Sachs Future Tech Leaders Equity ETF Price Performance

The firm has a market cap of $197.27 million, a P/E ratio of 27.18 and a beta of 1.43. The firm’s 50 day moving average is $30.71 and its 200 day moving average is $29.66.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank lifted its position in shares of Goldman Sachs Future Tech Leaders Equity ETF by 15.6% in the first quarter. Comerica Bank now owns 5,060 shares of the company’s stock valued at $149,000 after acquiring an additional 683 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Goldman Sachs Future Tech Leaders Equity ETF by 23.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 32,342 shares of the company’s stock valued at $969,000 after acquiring an additional 6,113 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Goldman Sachs Future Tech Leaders Equity ETF by 22.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 12,741 shares of the company’s stock worth $382,000 after acquiring an additional 2,296 shares in the last quarter. Heartwood Wealth Advisors LLC raised its position in shares of Goldman Sachs Future Tech Leaders Equity ETF by 1.2% in the 3rd quarter. Heartwood Wealth Advisors LLC now owns 585,662 shares of the company’s stock worth $17,827,000 after acquiring an additional 6,727 shares in the last quarter. Finally, Flow Traders U.S. LLC purchased a new stake in Goldman Sachs Future Tech Leaders Equity ETF during the third quarter valued at approximately $866,000.

About Goldman Sachs Future Tech Leaders Equity ETF

The Goldman Sachs Future Tech Leaders Equity ETF (GTEK) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund actively invests in potentially growing technology companies that are believed to drive tech innovation around the world. GTEK was launched on Sep 14, 2021 and is managed by Goldman Sachs.