Short Interest in SPDR S&P Telecom ETF (NYSEARCA:XTL) Increases By 68.0%

SPDR S&P Telecom ETF (NYSEARCA:XTL) saw a significant increase in short interest in May. As of May 29th, there was short interest totaling 108,774 shares, an increase of 68.0% from the May 14th total of 64,754 shares. Based on an average daily trading volume, of 80,934 shares, the short-interest ratio is currently 1.3 days. Approximately 3.1% of the company’s shares are sold short.

SPDR S&P Telecom ETF Trading Up 0.1%

SPDR S&P Telecom ETF stock traded up $0.28 during trading hours on Monday, hitting $231.26. 100,651 shares of the stock traded hands, compared to its average volume of 79,642. SPDR S&P Telecom ETF has a one year low of $106.84 and a one year high of $247.62. The firm’s 50-day moving average price is $223.51 and its two-hundred day moving average price is $187.89. The company has a market cap of $802.47 million, a PE ratio of 17.49 and a beta of 1.14.

Institutional Investors Weigh In On SPDR S&P Telecom ETF

Several hedge funds have recently made changes to their positions in XTL. CWM LLC bought a new position in SPDR S&P Telecom ETF in the fourth quarter worth $33,959,000. Bank of America Corp DE boosted its holdings in shares of SPDR S&P Telecom ETF by 6.5% during the 1st quarter. Bank of America Corp DE now owns 80,922 shares of the company’s stock valued at $15,218,000 after buying an additional 4,960 shares in the last quarter. MinichMacGregor Wealth Management LLC purchased a new stake in shares of SPDR S&P Telecom ETF in the 1st quarter worth about $11,786,000. Castleark Management LLC purchased a new stake in shares of SPDR S&P Telecom ETF in the 3rd quarter worth about $8,359,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of SPDR S&P Telecom ETF by 5.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 57,765 shares of the company’s stock worth $5,774,000 after acquiring an additional 2,771 shares in the last quarter.

About SPDR S&P Telecom ETF

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.