SPDR S&P Telecom ETF (NYSEARCA:XTL – Get Free Report) saw a large drop in short interest in the month of 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. Based on an average trading volume of 56,970 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.6% of the company’s shares are sold short.
Institutional Investors Weigh In On SPDR S&P Telecom ETF
Several hedge funds have recently made changes to their positions in XTL. MinichMacGregor Wealth Management LLC bought a new stake in SPDR S&P Telecom ETF in the first quarter worth about $11,786,000. Castleark Management LLC acquired a new position in SPDR S&P Telecom ETF during the third quarter worth $8,359,000. UBS Group AG grew its stake in SPDR S&P Telecom ETF by 184.7% in the 4th quarter. UBS Group AG now owns 52,178 shares of the company’s stock valued at $7,995,000 after buying an additional 33,851 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of SPDR S&P Telecom ETF in the first quarter valued at approximately $4,628,000. Finally, Bank of America Corp DE raised its stake in shares of 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 valued at $9,067,000 after purchasing an additional 21,242 shares in the last quarter.
SPDR S&P Telecom ETF Price Performance
Shares of XTL stock traded down $0.84 during trading on Wednesday, reaching $214.60. The company’s stock had a trading volume of 1,564 shares, compared to its average volume of 76,430. The company has a market capitalization of $583.71 million, a price-to-earnings ratio of 17.49 and a beta of 1.16. SPDR S&P Telecom ETF has a 1-year low of $123.90 and a 1-year high of $247.62. The stock’s 50-day moving average price is $216.88 and its 200 day moving average price is $207.57.
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.
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