SPDR S&P Telecom ETF (NYSEARCA:XTL) Sees Large Drop in Short Interest

SPDR S&P Telecom ETF (NYSEARCA:XTL) was the target of a large drop in short interest in February. As of February 27th, there was short interest totaling 18,441 shares, a drop of 30.6% from the February 12th total of 26,577 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily volume of 21,387 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily volume of 21,387 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.2% of the company’s stock are sold short.

SPDR S&P Telecom ETF Price Performance

Shares of XTL stock traded down $1.26 on Friday, hitting $184.54. The company’s stock had a trading volume of 30,813 shares, compared to its average volume of 24,361. The stock has a market capitalization of $276.81 million, a price-to-earnings ratio of 17.49 and a beta of 1.11. SPDR S&P Telecom ETF has a fifty-two week low of $84.68 and a fifty-two week high of $194.38. The firm’s fifty day moving average price is $172.05 and its 200-day moving average price is $154.76.

Institutional Trading of SPDR S&P Telecom ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers boosted its stake in shares of SPDR S&P Telecom ETF by 0.3% during the 4th quarter. Cetera Investment Advisers now owns 37,694 shares of the company’s stock worth $5,775,000 after acquiring an additional 115 shares in the last quarter. Kaizen Financial Strategies raised its stake in shares of SPDR S&P Telecom ETF by 2.0% in the 3rd quarter. Kaizen Financial Strategies now owns 6,245 shares of the company’s stock valued at $910,000 after acquiring an additional 125 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in SPDR S&P Telecom ETF by 0.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 25,139 shares of the company’s stock worth $3,852,000 after purchasing an additional 137 shares during the last quarter. Jones Financial Companies Lllp boosted its position in SPDR S&P Telecom ETF by 119.2% during the third quarter. Jones Financial Companies Lllp now owns 423 shares of the company’s stock worth $59,000 after purchasing an additional 230 shares during the period. Finally, MML Investors Services LLC boosted its position in SPDR S&P Telecom ETF by 10.4% during the fourth quarter. MML Investors Services LLC now owns 2,551 shares of the company’s stock worth $391,000 after purchasing an additional 241 shares during the period.

About SPDR S&P Telecom ETF

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.