SPDR NYSE Technology ETF (NYSEARCA:XNTK) Sees Significant Growth in Short Interest

SPDR NYSE Technology ETF (NYSEARCA:XNTK) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 48,351 shares, an increase of 212.7% from the September 30th total of 15,461 shares. Based on an average trading volume of 53,688 shares, the short-interest ratio is currently 0.9 days. Approximately 0.9% of the company’s shares are short sold.

SPDR NYSE Technology ETF Stock Performance

SPDR NYSE Technology ETF stock opened at $365.51 on Thursday. The company’s 50 day simple moving average is $366.43 and its 200-day simple moving average is $328.45. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 31.16 and a beta of 1.45. SPDR NYSE Technology ETF has a 1 year low of $242.73 and a 1 year high of $395.35.

Hedge Funds Weigh In On SPDR NYSE Technology ETF

A number of hedge funds have recently made changes to their positions in XNTK. North Star Investment Management Corp. purchased a new stake in SPDR NYSE Technology ETF in the third quarter valued at approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in SPDR NYSE Technology ETF in the third quarter valued at approximately $59,000. Park Avenue Securities LLC acquired a new position in SPDR NYSE Technology ETF during the third quarter worth $1,517,000. SFG Wealth Management LLC. lifted its stake in SPDR NYSE Technology ETF by 2.9% during the third quarter. SFG Wealth Management LLC. now owns 13,472 shares of the company’s stock worth $5,149,000 after purchasing an additional 376 shares in the last quarter. Finally, Beaumont Financial Advisors LLC lifted its stake in SPDR NYSE Technology ETF by 1.7% during the third quarter. Beaumont Financial Advisors LLC now owns 30,817 shares of the company’s stock worth $11,778,000 after purchasing an additional 508 shares in the last quarter.

About SPDR NYSE Technology ETF

SPDR Morgan Stanley Technology ETF (the Fund) seeks to closely match the returns and characteristics of the Morgan Stanley Technology Index. The Morgan Stanley Technology Index is composed purely of electronics-based technology companies. The Technology Index comprises companies drawn from the following technology sub-sectors: computer services; design software; server software, personal computer (PC) software and new media; networking and telecom equipment; server hardware, PC hardware and peripherals; specialized systems, and semiconductors.