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

SPDR S&P Telecom ETF (NYSEARCA:XTL) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 9,721 shares, a decrease of 52.5% from the September 30th total of 20,446 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average trading volume of 50,767 shares, the days-to-cover ratio is presently 0.2 days.

SPDR S&P Telecom ETF Trading Down 3.3%

Shares of NYSEARCA:XTL traded down $6.50 on Friday, reaching $189.39. 21,494 shares of the company were exchanged, compared to its average volume of 69,598. SPDR S&P Telecom ETF has a 1-year low of $131.25 and a 1-year high of $247.62. The firm has a market cap of $467.79 million, a price-to-earnings ratio of 17.49 and a beta of 1.17. The company has a 50-day moving average of $203.23 and a 200-day moving average of $203.99.

Institutional Investors Weigh In On SPDR S&P Telecom ETF

A number of hedge funds and other institutional investors have recently modified their holdings of XTL. Kingswood Wealth Advisors LLC grew its holdings in shares of SPDR S&P Telecom ETF by 32.2% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 1,715 shares of the company’s stock worth $348,000 after acquiring an additional 418 shares during the period. Financial Management Professionals Inc. purchased a new position in SPDR S&P Telecom ETF in the 3rd quarter valued at approximately $1,518,000. Brookstone Capital Management acquired a new position in SPDR S&P Telecom ETF during the third quarter worth $1,066,000. Parkway Wealth Management Group LLC raised its holdings in SPDR S&P Telecom ETF by 1.5% during the third quarter. Parkway Wealth Management Group LLC now owns 129,331 shares of the company’s stock worth $26,253,000 after purchasing an additional 1,888 shares during the last quarter. Finally, MinichMacGregor Wealth Management LLC boosted its position in SPDR S&P Telecom ETF by 3.2% during the third quarter. MinichMacGregor Wealth Management LLC now owns 80,468 shares of the company’s stock worth $16,334,000 after purchasing an additional 2,472 shares in the last quarter.

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.