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

SPDR NYSE Technology ETF (NYSEARCA:XNTK) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 5,225 shares, a decline of 42.5% from the August 15th total of 9,088 shares. Based on an average daily volume of 108,694 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On SPDR NYSE Technology ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cherry Tree Wealth Management LLC acquired a new stake in SPDR NYSE Technology ETF in the 2nd quarter worth about $670,000. NorthRock Partners LLC acquired a new stake in shares of SPDR NYSE Technology ETF in the second quarter valued at approximately $64,063,000. NewEdge Advisors LLC increased its position in shares of SPDR NYSE Technology ETF by 34,145.9% during the 2nd quarter. NewEdge Advisors LLC now owns 46,232 shares of the company’s stock valued at $18,061,000 after purchasing an additional 46,097 shares during the period. IFP Advisors Inc acquired a new position in shares of SPDR NYSE Technology ETF in the 2nd quarter valued at $212,000. Finally, Beacon Investment Advisory Services Inc. increased its holdings in shares of SPDR NYSE Technology ETF by 55.3% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 191 shares of the company’s stock valued at $75,000 after purchasing an additional 68 shares during the period.

SPDR NYSE Technology ETF Trading Up 2.4%

Shares of XNTK traded up $8.49 during trading hours on Thursday, hitting $363.40. The company had a trading volume of 16,067 shares, compared to its average volume of 49,741. SPDR NYSE Technology ETF has a one year low of $242.73 and a one year high of $392.44. The company’s fifty day moving average price is $354.55 and its two-hundred day moving average price is $331.65. The company has a market capitalization of $1.85 billion, a PE ratio of 31.16 and a beta of 1.45.

About SPDR NYSE Technology ETF

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.