Financial Select Sector SPDR Fund (NYSEARCA:XLF) Sees Large Growth in Short Interest

Financial Select Sector SPDR Fund (NYSEARCA:XLF) saw a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 119,121,653 shares, a growth of 33.6% from the February 12th total of 89,171,222 shares. Currently, 11.5% of the company’s shares are short sold. Based on an average trading volume of 60,979,729 shares, the days-to-cover ratio is presently 2.0 days. Based on an average trading volume of 60,979,729 shares, the days-to-cover ratio is presently 2.0 days. Currently, 11.5% of the company’s shares are short sold.

Financial Select Sector SPDR Fund Stock Performance

XLF stock traded up $0.06 on Friday, reaching $48.89. The company’s stock had a trading volume of 47,586,388 shares, compared to its average volume of 55,858,109. The business has a fifty day simple moving average of $52.83 and a two-hundred day simple moving average of $53.24. The firm has a market cap of $50.58 billion, a PE ratio of 18.25 and a beta of 0.99. Financial Select Sector SPDR Fund has a 12-month low of $42.21 and a 12-month high of $56.51.

Hedge Funds Weigh In On Financial Select Sector SPDR Fund

Institutional investors have recently added to or reduced their stakes in the company. Lewis Asset Management LLC increased its stake in shares of Financial Select Sector SPDR Fund by 2.9% during the fourth quarter. Lewis Asset Management LLC now owns 6,537 shares of the exchange traded fund’s stock valued at $358,000 after purchasing an additional 186 shares in the last quarter. True Vision MN LLC grew its stake in shares of Financial Select Sector SPDR Fund by 1.4% in the 4th quarter. True Vision MN LLC now owns 13,833 shares of the exchange traded fund’s stock worth $758,000 after buying an additional 188 shares during the last quarter. Mather Group LLC. increased its position in Financial Select Sector SPDR Fund by 3.8% during the 4th quarter. Mather Group LLC. now owns 5,109 shares of the exchange traded fund’s stock valued at $280,000 after buying an additional 188 shares in the last quarter. Capitol Family Office Inc. raised its stake in Financial Select Sector SPDR Fund by 0.8% during the third quarter. Capitol Family Office Inc. now owns 23,903 shares of the exchange traded fund’s stock valued at $1,288,000 after buying an additional 189 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC raised its stake in Financial Select Sector SPDR Fund by 20.8% during the fourth quarter. Smallwood Wealth Investment Management LLC now owns 1,097 shares of the exchange traded fund’s stock valued at $60,000 after buying an additional 189 shares during the last quarter. Institutional investors own 72.51% of the company’s stock.

Financial Select Sector SPDR Fund Company Profile

The Fund seeks to provide investors with a low-cost passive approach for investing in a portfolio of equity securities of firms as represented by the Financial Select Sector Index.