Short Interest in SPDR FactSet Innovative Technology ETF (NYSEARCA:XITK) Decreases By 30.0%

SPDR FactSet Innovative Technology ETF (NYSEARCA:XITK) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 299 shares, a decrease of 30.0% from the March 15th total of 427 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 1,827 shares, the short-interest ratio is presently 0.2 days.

SPDR FactSet Innovative Technology ETF Stock Up 2.3%

Shares of NYSEARCA:XITK traded up $3.55 during midday trading on Wednesday, hitting $160.78. 854 shares of the stock traded hands, compared to its average volume of 2,250. The stock has a market capitalization of $59.49 million, a PE ratio of 27.20 and a beta of 1.22. The business’s 50 day moving average is $151.29 and its two-hundred day moving average is $170.42. SPDR FactSet Innovative Technology ETF has a one year low of $141.05 and a one year high of $196.86.

Hedge Funds Weigh In On SPDR FactSet Innovative Technology ETF

Several hedge funds and other institutional investors have recently modified their holdings of XITK. Harbour Wealth Management Group Inc. bought a new position in shares of SPDR FactSet Innovative Technology ETF during the fourth quarter valued at about $3,503,000. Northwestern Mutual Wealth Management Co. lifted its holdings in SPDR FactSet Innovative Technology ETF by 15,685.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 8,840 shares of the company’s stock worth $1,577,000 after buying an additional 8,784 shares during the period. Ameriprise Financial Inc. lifted its holdings in SPDR FactSet Innovative Technology ETF by 188.4% in the third quarter. Ameriprise Financial Inc. now owns 12,124 shares of the company’s stock worth $2,309,000 after buying an additional 7,920 shares during the period. Royal Bank of Canada boosted its position in SPDR FactSet Innovative Technology ETF by 84.9% during the 4th quarter. Royal Bank of Canada now owns 14,830 shares of the company’s stock valued at $2,646,000 after acquiring an additional 6,810 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in SPDR FactSet Innovative Technology ETF by 2,153.7% during the 4th quarter. Wells Fargo & Company MN now owns 2,141 shares of the company’s stock valued at $382,000 after acquiring an additional 2,046 shares in the last quarter.

About SPDR FactSet Innovative Technology ETF

The SPDR FactSet Innovative Technology ETF (XITK) is an exchange-traded fund that is based on the FactSet Innovative Technology index. The fund tracks an index composed of US-listed technology and electronic media companies deemed innovative or disruptive by FactSet. XITK was launched on Jan 13, 2016 and is managed by State Street.