SPDR S&P Telecom ETF (NYSEARCA:XTL) Stock Short Interest Drops 52.5%

SPDR S&P Telecom ETF (NYSEARCA:XTL) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totaling 9,721 shares, a drop of 52.5% from the September 30th total of 20,446 shares. Based on an average daily volume of 50,767 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.4% of the shares of the stock are sold short.

SPDR S&P Telecom ETF Price Performance

Shares of NYSEARCA XTL traded down $6.50 during mid-day trading on Friday, hitting $189.39. 21,494 shares of the company’s stock traded hands, compared to its average volume of 69,598. The company has a market capitalization of $467.79 million, a P/E ratio of 17.49 and a beta of 1.17. SPDR S&P Telecom ETF has a 1 year low of $131.25 and a 1 year high of $247.62. The company’s 50-day moving average is $203.23 and its two-hundred day moving average is $203.99.

Institutional Trading of SPDR S&P Telecom ETF

Several institutional investors have recently added to or reduced their stakes in XTL. Parkway Wealth Management Group LLC increased its stake in shares of SPDR S&P Telecom ETF by 1.5% during the third quarter. Parkway Wealth Management Group LLC now owns 129,331 shares of the company’s stock valued at $26,253,000 after buying an additional 1,888 shares during the period. MinichMacGregor Wealth Management LLC grew its holdings in SPDR S&P Telecom ETF by 3.2% during the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 80,468 shares of the company’s stock worth $16,334,000 after acquiring an additional 2,472 shares in the last quarter. Bank of America Corp DE grew its holdings in SPDR S&P Telecom ETF by 6.5% during the 1st quarter. Bank of America Corp DE now owns 80,922 shares of the company’s stock worth $15,218,000 after acquiring an additional 4,960 shares in the last quarter. Hsbc Holdings PLC purchased a new position in SPDR S&P Telecom ETF during the 1st quarter valued at about $4,628,000. Finally, NewEdge Advisors LLC increased its position in SPDR S&P Telecom ETF by 413.8% during the 2nd quarter. NewEdge Advisors LLC now owns 10,163 shares of the company’s stock valued at $2,312,000 after purchasing an additional 8,185 shares during the period.

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.