Short Interest in SPDR FactSet Innovative Technology ETF (NYSEARCA:XITK) Decreases By 59.8%

SPDR FactSet Innovative Technology ETF (NYSEARCA:XITK) was the recipient of a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 231 shares, a decline of 59.8% from the April 30th total of 575 shares. Based on an average daily trading volume, of 919 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the company’s shares are short sold.

SPDR FactSet Innovative Technology ETF Price Performance

Shares of SPDR FactSet Innovative Technology ETF stock traded up $2.28 during trading on Friday, reaching $200.50. 1,756 shares of the company traded hands, compared to its average volume of 2,017. SPDR FactSet Innovative Technology ETF has a 1-year low of $141.05 and a 1-year high of $200.50. The company has a 50 day moving average price of $169.86 and a 200-day moving average price of $169.22. The firm has a market capitalization of $70.18 million, a PE ratio of 27.20 and a beta of 1.27.

Hedge Funds Weigh In On SPDR FactSet Innovative Technology ETF

A number of institutional investors have recently modified their holdings of XITK. Harbour Wealth Management Group Inc. acquired a new position in shares of SPDR FactSet Innovative Technology ETF during the fourth quarter worth approximately $3,503,000. Northwestern Mutual Wealth Management Co. raised its position in shares of SPDR FactSet Innovative Technology ETF by 15,685.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 8,840 shares of the company’s stock worth $1,577,000 after purchasing an additional 8,784 shares during the period. Ameriprise Financial Inc. raised its position in shares of SPDR FactSet Innovative Technology ETF by 188.4% during the third quarter. Ameriprise Financial Inc. now owns 12,124 shares of the company’s stock worth $2,309,000 after purchasing an additional 7,920 shares during the period. Royal Bank of Canada raised its position in shares of SPDR FactSet Innovative Technology ETF by 84.9% during the fourth quarter. Royal Bank of Canada now owns 14,830 shares of the company’s stock worth $2,646,000 after purchasing an additional 6,810 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of SPDR FactSet Innovative Technology ETF by 2,153.7% during the fourth quarter. Wells Fargo & Company MN now owns 2,141 shares of the company’s stock worth $382,000 after purchasing an additional 2,046 shares during the period.

SPDR FactSet Innovative Technology ETF Company Profile

The SPDR FactSet Innovative Technology ETF (XITK) is an exchange-traded fund that is based on the FactSet Innovative Technology index. The fund tracks an index composed of US-listed technology and electronic media companies deemed innovative or disruptive by FactSet. XITK was launched on Jan 13, 2016 and is managed by State Street.