SPDR FactSet Innovative Technology ETF (NYSEARCA:XITK) Sees Significant Decline in Short Interest

SPDR FactSet Innovative Technology ETF (NYSEARCA:XITK) was the recipient of a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 193 shares, a decline of 13.8% from the January 15th total of 224 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average trading volume of 1,509 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 1,509 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s stock are sold short.

Hedge Funds Weigh In On SPDR FactSet Innovative Technology ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in XITK. Good Life Advisors LLC purchased a new stake in shares of SPDR FactSet Innovative Technology ETF in the second quarter worth about $212,000. Raymond James Financial Inc. acquired a new stake in shares of SPDR FactSet Innovative Technology ETF during the second quarter worth $142,000. Ameriprise Financial Inc. lifted its position in SPDR FactSet Innovative Technology ETF by 14.2% during the second quarter. Ameriprise Financial Inc. now owns 4,204 shares of the company’s stock valued at $796,000 after purchasing an additional 523 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 acquiring an additional 8,784 shares during the period. Finally, LPL Financial LLC increased its stake in shares of SPDR FactSet Innovative Technology ETF by 5.1% during the fourth quarter. LPL Financial LLC now owns 31,121 shares of the company’s stock worth $5,553,000 after purchasing an additional 1,516 shares in the last quarter.

SPDR FactSet Innovative Technology ETF Stock Performance

XITK traded down $2.59 during midday trading on Tuesday, reaching $146.58. The company had a trading volume of 1,197 shares, compared to its average volume of 1,986. The stock has a market cap of $61.56 million, a PE ratio of 27.20 and a beta of 1.23. The business has a 50-day moving average price of $173.10 and a two-hundred day moving average price of $180.61. SPDR FactSet Innovative Technology ETF has a 12-month low of $138.01 and a 12-month high of $196.86.

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.