SPDR FactSet Innovative Technology ETF (NYSEARCA:XITK) Short Interest Update

SPDR FactSet Innovative Technology ETF (NYSEARCA:XITK) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 625 shares, a growth of 58.6% from the August 15th total of 394 shares. Based on an average daily volume of 754 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.2% of the shares of the stock are sold short.

SPDR FactSet Innovative Technology ETF Stock Up 1.9%

NYSEARCA:XITK traded up $3.63 on Thursday, reaching $196.37. The company’s stock had a trading volume of 539 shares, compared to its average volume of 2,117. The stock has a 50 day moving average price of $193.45 and a 200 day moving average price of $181.22. SPDR FactSet Innovative Technology ETF has a 12-month low of $141.05 and a 12-month high of $211.23. The firm has a market cap of $9.82 million, a price-to-earnings ratio of 27.20 and a beta of 1.32.

Hedge Funds Weigh In On SPDR FactSet Innovative Technology ETF

Several large investors have recently modified their holdings of the stock. Harbour Wealth Management Group Inc. acquired a new stake in shares of SPDR FactSet Innovative Technology ETF during the 4th quarter valued at $3,503,000. Northwestern Mutual Wealth Management Co. raised its position in shares of SPDR FactSet Innovative Technology ETF by 15,685.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 8,840 shares of the company’s stock worth $1,577,000 after purchasing an additional 8,784 shares during the period. Finally, Citadel Advisors LLC acquired a new position in SPDR FactSet Innovative Technology ETF during the 2nd quarter worth approximately $485,000.

About SPDR FactSet Innovative Technology ETF

The SPDR FactSet Innovative Technology ETF (XITK) is an exchange-traded fund that is based on the FactSet Innovative Technology index. The fund tracks an index composed of US-listed technology and electronic media companies deemed innovative or disruptive by FactSet. XITK was launched on Jan 13, 2016 and is managed by State Street.