Technology Select Sector SPDR ETF (XLK) Sees Significant Growth in Short Interest

Technology Select Sector SPDR ETF (NYSEARCA:XLK) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 38,013,416 shares, a growth of 20.1% from the November 30th total of 31,662,570 shares. Based on an average daily volume of 13,397,945 shares, the days-to-cover ratio is presently 2.8 days.

A number of hedge funds have recently bought and sold shares of XLK. Sei Investments Co. boosted its stake in Technology Select Sector SPDR ETF by 50.1% in the 2nd quarter. Sei Investments Co. now owns 5,856 shares of the exchange traded fund’s stock worth $321,000 after purchasing an additional 1,955 shares during the period. Prudential Financial Inc. boosted its stake in Technology Select Sector SPDR ETF by 105.7% in the 2nd quarter. Prudential Financial Inc. now owns 30,029 shares of the exchange traded fund’s stock worth $1,643,000 after purchasing an additional 15,429 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in Technology Select Sector SPDR ETF by 18.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,284 shares of the exchange traded fund’s stock worth $125,000 after purchasing an additional 353 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in Technology Select Sector SPDR ETF by 167.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,451 shares of the exchange traded fund’s stock worth $627,000 after purchasing an additional 7,168 shares during the period. Finally, Pinnacle Associates Ltd. boosted its stake in Technology Select Sector SPDR ETF by 1.9% in the 2nd quarter. Pinnacle Associates Ltd. now owns 16,298 shares of the exchange traded fund’s stock worth $892,000 after purchasing an additional 304 shares during the period.

Technology Select Sector SPDR ETF (NYSEARCA:XLK) opened at $65.61 on Friday. Technology Select Sector SPDR ETF has a 52 week low of $48.85 and a 52 week high of $65.78. The firm has a market capitalization of $19,820.00 and a P/E ratio of 7.58.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 26th. Shareholders of record on Monday, December 18th were paid a $0.2383 dividend. This represents a $0.95 annualized dividend and a yield of 1.45%. This is an increase from Technology Select Sector SPDR ETF’s previous quarterly dividend of $0.21. The ex-dividend date was Friday, December 15th. Technology Select Sector SPDR ETF’s dividend payout ratio is presently 10.17%.

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About Technology Select Sector SPDR ETF

Sector SPDR Trust SBI Interest, formerly Technology Select Sector SPDR Fund, seeks to provide investment results that correspond to the price and yield performance of the Technology Select Sector of the S&P 500 Index (the Index). The Index includes companies primarily involved in industries, such as information technology (IT) consulting, semiconductor equipment and products, computers and peripherals, diversified telecommunication services and wireless telecommunication services.It utilizes a passive or indexing investment approach to invest in a portfolio of stocks that seek to replicate the Index.

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