SPDR S&P Telecom ETF (NYSEARCA:XTL) Sees Strong Trading Volume – Here’s Why

SPDR S&P Telecom ETF (NYSEARCA:XTL) saw unusually-high trading volume on Wednesday . Approximately 177,446 shares were traded during trading, an increase of 189% from the previous session’s volume of 61,327 shares.The stock last traded at $218.56 and had previously closed at $220.51.

SPDR S&P Telecom ETF Stock Up 0.4%

The stock has a fifty day moving average of $193.50 and a 200-day moving average of $167.43. The stock has a market cap of $689.88 million, a PE ratio of 17.49 and a beta of 1.06.

Institutional Investors Weigh In On SPDR S&P Telecom ETF

A number of hedge funds have recently added to or reduced their stakes in XTL. Jones Financial Companies Lllp lifted its position in SPDR S&P Telecom ETF by 119.2% in the third quarter. Jones Financial Companies Lllp now owns 423 shares of the company’s stock valued at $59,000 after purchasing an additional 230 shares during the period. Kestra Advisory Services LLC acquired a new stake in SPDR S&P Telecom ETF in the fourth quarter valued at about $80,000. International Assets Investment Management LLC acquired a new stake in SPDR S&P Telecom ETF in the fourth quarter valued at about $131,000. Harbour Investments Inc. acquired a new stake in SPDR S&P Telecom ETF in the fourth quarter valued at about $150,000. Finally, Envestnet Asset Management Inc. acquired a new stake in SPDR S&P Telecom ETF in the second quarter valued at about $200,000.

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.