SPDR NYSE Technology ETF (NYSEARCA:XNTK) Sees Large Increase in Short Interest

SPDR NYSE Technology ETF (NYSEARCA:XNTK) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 45,321 shares, a growth of 52.8% from the December 15th total of 29,655 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 34,519 shares, the days-to-cover ratio is currently 1.3 days. Based on an average daily trading volume, of 34,519 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.8% of the shares of the stock are short sold.

SPDR NYSE Technology ETF Stock Up 0.5%

SPDR NYSE Technology ETF stock opened at $284.68 on Friday. The firm has a market capitalization of $1.57 billion, a PE ratio of 31.16 and a beta of 1.31. SPDR NYSE Technology ETF has a 52 week low of $159.43 and a 52 week high of $295.79. The firm’s 50-day simple moving average is $278.68 and its 200 day simple moving average is $264.19.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of XNTK. Allspring Global Investments Holdings LLC acquired a new position in shares of SPDR NYSE Technology ETF during the 4th quarter worth approximately $28,000. Brookstone Capital Management purchased a new position in SPDR NYSE Technology ETF during the fourth quarter worth $256,000. Spire Wealth Management raised its holdings in shares of SPDR NYSE Technology ETF by 221.2% in the fourth quarter. Spire Wealth Management now owns 1,320 shares of the company’s stock worth $367,000 after acquiring an additional 909 shares during the last quarter. Tradewinds Capital Management LLC acquired a new position in shares of SPDR NYSE Technology ETF in the fourth quarter worth $141,000. Finally, CoreCap Advisors LLC lifted its position in shares of SPDR NYSE Technology ETF by 209.1% in the fourth quarter. CoreCap Advisors LLC now owns 1,116 shares of the company’s stock valued at $310,000 after acquiring an additional 755 shares in the last quarter.

About SPDR NYSE Technology ETF

SPDR Morgan Stanley Technology ETF (the Fund) seeks to closely match the returns and characteristics of the Morgan Stanley Technology Index. The Morgan Stanley Technology Index is composed purely of electronics-based technology companies. The Technology Index comprises companies drawn from the following technology sub-sectors: computer services; design software; server software, personal computer (PC) software and new media; networking and telecom equipment; server hardware, PC hardware and peripherals; specialized systems, and semiconductors.