SPDR S&P Telecom ETF (NYSEARCA:XTL) Sees Large Growth in Short Interest

SPDR S&P Telecom ETF (NYSEARCA:XTL) was the target of a significant growth in short interest in August. As of August 14th, there was short interest totaling 34,864 shares, a growth of 101.9% from the July 30th total of 17,264 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 51,994 shares, the days-to-cover ratio is currently 0.7 days.

SPDR S&P Telecom ETF Stock Performance

SPDR S&P Telecom ETF stock traded down $4.33 during mid-day trading on Friday, hitting $209.82. 18,349 shares of the company traded hands, compared to its average volume of 77,940. SPDR S&P Telecom ETF has a one year low of $130.63 and a one year high of $247.62. The stock has a market cap of $570.71 million, a price-to-earnings ratio of 17.49 and a beta of 1.16. The stock has a fifty day moving average price of $214.78 and a 200-day moving average price of $210.07.

Institutional Trading of SPDR S&P Telecom ETF

Hedge funds have recently made changes to their positions in the stock. Integrity Financial Corp WA bought a new position in SPDR S&P Telecom ETF in the second quarter valued at $100,000. Kestra Advisory Services LLC purchased a new stake in SPDR S&P Telecom ETF during the fourth quarter valued at about $80,000. International Assets Investment Management LLC bought a new stake in SPDR S&P Telecom ETF during the fourth quarter worth about $131,000. Ameritas Advisory Services LLC bought a new stake in SPDR S&P Telecom ETF during the second quarter worth about $218,000. Finally, Harbour Investments Inc. purchased a new position in shares of SPDR S&P Telecom ETF in the 4th quarter worth about $150,000.

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.