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

SPDR NYSE Technology ETF (NYSEARCA:XNTK) saw a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 19,979 shares, a drop of 43.2% from the January 15th total of 35,194 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily volume of 32,004 shares, the short-interest ratio is presently 0.6 days. Based on an average daily volume of 32,004 shares, the short-interest ratio is presently 0.6 days. Currently, 0.4% of the shares of the company are short sold.

SPDR NYSE Technology ETF Price Performance

XNTK traded up $2.53 during trading on Friday, hitting $267.51. The stock had a trading volume of 21,616 shares, compared to its average volume of 36,281. The company has a 50 day moving average price of $280.32 and a 200-day moving average price of $270.06. SPDR NYSE Technology ETF has a one year low of $159.43 and a one year high of $295.79. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 31.16 and a beta of 1.31.

Hedge Funds Weigh In On SPDR NYSE Technology ETF

Several institutional investors and hedge funds have recently modified their holdings of XNTK. Auto Owners Insurance Co raised its stake in SPDR NYSE Technology ETF by 2.7% in the 2nd quarter. Auto Owners Insurance Co now owns 1,520,500 shares of the company’s stock worth $360,784,000 after purchasing an additional 39,400 shares in the last quarter. SoundView Advisors Inc. acquired a new position in shares of SPDR NYSE Technology ETF during the 3rd quarter worth approximately $357,706,000. LPL Financial LLC increased its holdings in shares of SPDR NYSE Technology ETF by 23.6% during the fourth quarter. LPL Financial LLC now owns 254,253 shares of the company’s stock worth $70,652,000 after purchasing an additional 48,595 shares during the period. Wells Fargo & Company MN raised its position in shares of SPDR NYSE Technology ETF by 35.1% in the fourth quarter. Wells Fargo & Company MN now owns 193,410 shares of the company’s stock valued at $53,745,000 after buying an additional 50,254 shares in the last quarter. Finally, Keystone Wealth Services LLC acquired a new stake in shares of SPDR NYSE Technology ETF in the fourth quarter valued at approximately $51,033,000.

SPDR NYSE Technology ETF Company Profile

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.