SPDR FactSet Innovative Technology ETF (NYSEARCA:XITK) Sees Large Growth in Short Interest

SPDR FactSet Innovative Technology ETF (NYSEARCA:XITK) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 625 shares, a growth of 58.6% from the August 15th total of 394 shares. Based on an average daily volume of 754 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.2% of the company’s stock are short sold.

Institutional Trading of SPDR FactSet Innovative Technology ETF

Several hedge funds have recently modified their holdings of the company. Harbour Wealth Management Group Inc. acquired a new position in SPDR FactSet Innovative Technology ETF during the fourth quarter valued at $3,503,000. Northwestern Mutual Wealth Management Co. increased its stake 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 valued at $1,577,000 after purchasing an additional 8,784 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in SPDR FactSet Innovative Technology ETF during the 2nd quarter valued at approximately $485,000.

SPDR FactSet Innovative Technology ETF Price Performance

Shares of XITK traded up $3.63 during mid-day trading on Thursday, hitting $196.37. The stock had a trading volume of 539 shares, compared to its average volume of 2,117. The business has a fifty day moving average price of $193.45 and a 200-day moving average price of $181.22. The firm has a market cap of $9.82 million, a P/E ratio of 27.20 and a beta of 1.32. SPDR FactSet Innovative Technology ETF has a 52 week low of $141.05 and a 52 week high of $211.23.

SPDR FactSet Innovative Technology ETF Company Profile

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.