SPDR S&P Pharmaceuticals ETF (NYSEARCA:XPH) Short Interest Down 37.8% in March

SPDR S&P Pharmaceuticals ETF (NYSEARCA:XPH) was the recipient of a large drop in short interest in March. As of March 13th, there was short interest totaling 383,310 shares, a drop of 37.8% from the February 26th total of 616,003 shares. Based on an average trading volume of 94,254 shares, the days-to-cover ratio is presently 4.1 days. Currently, 7.4% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. purchased a new position in shares of SPDR S&P Pharmaceuticals ETF during the third quarter worth approximately $10,732,000. Envestnet Portfolio Solutions Inc. increased its holdings in shares of SPDR S&P Pharmaceuticals ETF by 6.7% in the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 171,930 shares of the company’s stock valued at $8,242,000 after acquiring an additional 10,842 shares during the period. Park Avenue Securities LLC purchased a new stake in SPDR S&P Pharmaceuticals ETF in the 3rd quarter valued at $485,000. Clark Capital Management Group Inc. purchased a new stake in SPDR S&P Pharmaceuticals ETF in the 3rd quarter valued at $2,248,000. Finally, Team Financial Group LLC acquired a new stake in SPDR S&P Pharmaceuticals ETF during the 4th quarter worth $56,000.

SPDR S&P Pharmaceuticals ETF Stock Performance

NYSEARCA XPH traded down $1.11 during trading hours on Friday, hitting $52.28. The company had a trading volume of 8,469 shares, compared to its average volume of 102,939. The business has a 50 day moving average of $55.93 and a 200-day moving average of $53.03. The company has a market cap of $271.86 million, a PE ratio of 14.28 and a beta of 0.60. SPDR S&P Pharmaceuticals ETF has a 1-year low of $35.22 and a 1-year high of $58.84.

About SPDR S&P Pharmaceuticals ETF

SPDR S&P Pharmaceuticals ETF (the Fund) seeks to replicate as closely as possible the total return performance of the S&P Pharmaceuticals Select Industry Index. The S&P Pharmaceuticals Select Industry Index represents the pharmaceuticals sub-industry portion of the S&P Total Markets Index. The S&P TMI tracks all the United States common stocks listed on the New York Stock Exchange, American Stock Exchange, National Association of Securities Dealers Automated Quotation (NASDAQ) National Market and NASDAQ Small Cap exchanges.