Short Interest in ALPS Equal Sector Weight ETF (NYSEARCA:EQL) Drops By 35.9%

ALPS Equal Sector Weight ETF (NYSEARCA:EQL) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 18,382 shares, a drop of 35.9% from the March 15th total of 28,699 shares. Based on an average daily volume of 78,227 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On ALPS Equal Sector Weight ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in shares of ALPS Equal Sector Weight ETF by 20.4% in the 1st quarter. Royal Bank of Canada now owns 11,607 shares of the company’s stock valued at $1,462,000 after purchasing an additional 1,967 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of ALPS Equal Sector Weight ETF by 68.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,596 shares of the company’s stock valued at $324,000 after purchasing an additional 1,058 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of ALPS Equal Sector Weight ETF in the 2nd quarter valued at $164,000. Raymond James Financial Inc. lifted its stake in shares of ALPS Equal Sector Weight ETF by 205.9% in the 2nd quarter. Raymond James Financial Inc. now owns 922,171 shares of the company’s stock valued at $40,434,000 after purchasing an additional 620,663 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of ALPS Equal Sector Weight ETF by 135.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 397,308 shares of the company’s stock valued at $17,426,000 after purchasing an additional 228,690 shares during the last quarter.

ALPS Equal Sector Weight ETF Price Performance

Shares of NYSEARCA:EQL traded down $0.01 during midday trading on Wednesday, hitting $49.21. The company had a trading volume of 24,300 shares, compared to its average volume of 93,855. ALPS Equal Sector Weight ETF has a twelve month low of $38.46 and a twelve month high of $50.04. The stock has a market cap of $680.08 million, a price-to-earnings ratio of 22.84 and a beta of 0.88. The business’s 50-day simple moving average is $48.60 and its 200-day simple moving average is $47.26.

ALPS Equal Sector Weight ETF Company Profile

The ALPS Equal Sector Weight ETF (EQL) is an exchange-traded fund that is based on the NYSE Select Sector Equal Weight index. The fund tracks an equal-weighted index of all select sector SPDR ETFs. EQL was launched on Jul 7, 2009 and is managed by ALPS.