SPDR S&P Telecom ETF (NYSEARCA:XTL) Sees Large Decline in Short Interest

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

SPDR S&P Telecom ETF Trading Down 2.6%

XTL traded down $5.66 on Tuesday, hitting $215.30. 17,383 shares of the company’s stock traded hands, compared to its average volume of 76,872. The company’s 50 day simple moving average is $216.99 and its 200-day simple moving average is $207.24. SPDR S&P Telecom ETF has a one year low of $123.90 and a one year high of $247.62. The firm has a market cap of $585.62 million, a price-to-earnings ratio of 17.49 and a beta of 1.16.

Hedge Funds Weigh In On SPDR S&P Telecom ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings in shares of SPDR S&P Telecom ETF by 5.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 57,765 shares of the company’s stock worth $5,774,000 after purchasing an additional 2,771 shares during the period. Envestnet Asset Management Inc. purchased a new stake in SPDR S&P Telecom ETF during the 2nd quarter valued at $200,000. Raymond James Financial Inc. lifted its position in SPDR S&P Telecom ETF by 2.5% in the second quarter. Raymond James Financial Inc. now owns 33,485 shares of the company’s stock worth $3,928,000 after buying an additional 805 shares during the last quarter. Bank of America Corp DE lifted its position in SPDR S&P Telecom ETF by 48.8% in the third quarter. Bank of America Corp DE now owns 64,804 shares of the company’s stock worth $9,067,000 after buying an additional 21,242 shares during the last quarter. Finally, Susquehanna International Group LLP purchased a new position in SPDR S&P Telecom ETF during the third quarter worth $2,387,000.

SPDR S&P Telecom ETF Company Profile

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.