SPDR S&P Telecom ETF (NYSEARCA:XTL) Sees Significant Drop in Short Interest

SPDR S&P Telecom ETF (NYSEARCA:XTL) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 17,264 shares, a decline of 39.0% from the July 15th total of 28,286 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average trading volume of 56,970 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On SPDR S&P Telecom ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pacific Sun Financial Corp boosted its stake in shares of SPDR S&P Telecom ETF by 1.8% in the first quarter. Pacific Sun Financial Corp now owns 2,790 shares of the company’s stock valued at $525,000 after buying an additional 50 shares during the period. Cetera Investment Advisers grew its position in SPDR S&P Telecom ETF by 0.3% during the fourth quarter. Cetera Investment Advisers now owns 37,694 shares of the company’s stock worth $5,775,000 after buying an additional 115 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in SPDR S&P Telecom ETF by 0.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 25,139 shares of the company’s stock worth $3,852,000 after acquiring an additional 137 shares during the period. Avior Wealth Management LLC increased its stake in SPDR S&P Telecom ETF by 6.1% during the 2nd quarter. Avior Wealth Management LLC now owns 3,616 shares of the company’s stock worth $823,000 after acquiring an additional 209 shares during the period. Finally, MML Investors Services LLC raised its holdings in SPDR S&P Telecom ETF by 10.4% in the 4th quarter. MML Investors Services LLC now owns 2,551 shares of the company’s stock valued at $391,000 after acquiring an additional 241 shares in the last quarter.

SPDR S&P Telecom ETF Stock Performance

NYSEARCA:XTL opened at $213.74 on Thursday. SPDR S&P Telecom ETF has a 52 week low of $123.90 and a 52 week high of $247.62. The firm’s 50-day simple moving average is $216.74 and its 200 day simple moving average is $207.91. The firm has a market cap of $581.37 million, a price-to-earnings ratio of 17.49 and a beta of 1.16.

SPDR S&P Telecom ETF Company Profile

The SPDR S&P Telecom ETF (XTL) is an exchange-traded fund that is based on the S&P Telecom Select Industry index. The fund tracks an equal-weighted index of US telecom companies selected by the S&P Committee. XTL was launched on Jan 26, 2011 and is managed by State Street.