Short Interest in Financial Select Sector SPDR Fund (NYSEARCA:XLF) Declines By 32.2%

Financial Select Sector SPDR Fund (NYSEARCA:XLF) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 59,590,000 shares, a decline of 32.2% from the September 30th total of 87,910,000 shares. Approximately 5.9% of the shares of the company are short sold. Based on an average daily trading volume, of 37,560,600 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily trading volume, of 37,560,600 shares, the days-to-cover ratio is currently 1.6 days. Approximately 5.9% of the shares of the company are short sold.

Financial Select Sector SPDR Fund Price Performance

XLF stock traded down $0.22 during trading on Monday, hitting $52.15. 38,593,607 shares of the company traded hands, compared to its average volume of 43,003,617. Financial Select Sector SPDR Fund has a 1 year low of $42.21 and a 1 year high of $54.49. The company has a market cap of $52.39 billion, a PE ratio of 18.25 and a beta of 0.99. The stock’s 50-day simple moving average is $53.34 and its 200 day simple moving average is $51.90.

Hedge Funds Weigh In On Financial Select Sector SPDR Fund

Several institutional investors have recently made changes to their positions in the company. Quattro Financial Advisors LLC grew its holdings in shares of Financial Select Sector SPDR Fund by 7.7% in the first quarter. Quattro Financial Advisors LLC now owns 71,522 shares of the exchange traded fund’s stock valued at $3,563,000 after purchasing an additional 5,083 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Financial Select Sector SPDR Fund by 11.3% in the first quarter. Concurrent Investment Advisors LLC now owns 321,877 shares of the exchange traded fund’s stock worth $16,032,000 after acquiring an additional 32,792 shares in the last quarter. Marks Wealth LLC purchased a new stake in shares of Financial Select Sector SPDR Fund during the first quarter worth $33,168,000. Simmons Bank raised its stake in shares of Financial Select Sector SPDR Fund by 1.4% in the first quarter. Simmons Bank now owns 107,873 shares of the exchange traded fund’s stock valued at $5,373,000 after acquiring an additional 1,494 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in Financial Select Sector SPDR Fund by 1.9% during the 1st quarter. Truist Financial Corp now owns 10,215,310 shares of the exchange traded fund’s stock worth $508,825,000 after purchasing an additional 193,818 shares during the period. 72.51% of the stock is owned by hedge funds and other institutional investors.

Financial Select Sector SPDR Fund Company Profile

The Fund seeks to provide investors with a low-cost passive approach for investing in a portfolio of equity securities of firms as represented by the Financial Select Sector Index.