Short Interest in SPDR S&P Telecom ETF (NYSEARCA:XTL) Drops By 39.3%

SPDR S&P Telecom ETF (NYSEARCA:XTL) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totaling 21,159 shares, a drop of 39.3% from the August 15th total of 34,864 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily volume of 80,608 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On SPDR S&P Telecom ETF

A number of large investors have recently made changes to their positions in the company. Pacific Sun Financial Corp boosted its position in SPDR S&P Telecom ETF by 1.8% during the first quarter. Pacific Sun Financial Corp now owns 2,790 shares of the company’s stock valued at $525,000 after purchasing an additional 50 shares during the last quarter. Avior Wealth Management LLC increased its position in SPDR S&P Telecom ETF by 6.1% in the 2nd quarter. Avior Wealth Management LLC now owns 3,616 shares of the company’s stock worth $823,000 after purchasing an additional 209 shares during the last quarter. Liberty One Investment Management LLC increased its position in SPDR S&P Telecom ETF by 3.1% in the 1st quarter. Liberty One Investment Management LLC now owns 9,023 shares of the company’s stock worth $1,697,000 after purchasing an additional 269 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of SPDR S&P Telecom ETF by 44.5% during the 1st quarter. International Assets Investment Management LLC now owns 1,233 shares of the company’s stock worth $235,000 after purchasing an additional 380 shares in the last quarter. Finally, Integrity Financial Corp WA purchased a new stake in shares of SPDR S&P Telecom ETF during the 2nd quarter worth about $100,000.

SPDR S&P Telecom ETF Price Performance

NYSEARCA XTL traded down $1.67 on Friday, hitting $204.37. 8,213 shares of the company were exchanged, compared to its average volume of 74,600. SPDR S&P Telecom ETF has a twelve month low of $131.25 and a twelve month high of $247.62. The firm has a market capitalization of $425.09 million, a P/E ratio of 17.49 and a beta of 1.16. The company’s 50 day moving average price is $211.62 and its 200-day moving average price is $213.06.

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.