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

SPDR S&P Telecom ETF (NYSEARCA:XTL) saw a large drop in short interest in July. As of July 31st, there was short interest totaling 17,264 shares, a drop of 39.0% from the July 15th total of 28,286 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average trading volume of 56,970 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of SPDR S&P Telecom ETF

A number of large investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC purchased a new stake in SPDR S&P Telecom ETF during the fourth quarter valued at $80,000. International Assets Investment Management LLC bought a new stake in shares of SPDR S&P Telecom ETF during the 4th quarter valued at $131,000. Harbour Investments Inc. purchased a new stake in shares of SPDR S&P Telecom ETF in the 4th quarter worth $150,000. Envestnet Asset Management Inc. purchased a new stake in shares of SPDR S&P Telecom ETF in the 2nd quarter worth $200,000. Finally, NewEdge Advisors LLC bought a new position in SPDR S&P Telecom ETF in the 4th quarter worth $212,000.

SPDR S&P Telecom ETF Trading Down 2.6%

NYSEARCA:XTL traded down $5.66 during trading hours on Tuesday, reaching $215.30. 17,383 shares of the company traded hands, compared to its average volume of 76,872. The business’s 50-day moving average price is $216.99 and its two-hundred day moving average price is $207.24. SPDR S&P Telecom ETF has a 1 year low of $123.90 and a 1 year high of $247.62. The stock has a market capitalization of $585.62 million, a P/E ratio of 17.49 and a beta of 1.16.

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.