SPDR S&P Kensho New Economies Composite ETF (NYSEARCA:KOMP) Sees Large Drop in Short Interest

SPDR S&P Kensho New Economies Composite ETF (NYSEARCA:KOMP) was the recipient of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 9,220 shares, a decline of 63.6% from the July 30th total of 25,351 shares. Based on an average daily volume of 67,677 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

SPDR S&P Kensho New Economies Composite ETF Price Performance

NYSEARCA:KOMP traded down $1.61 during trading hours on Friday, reaching $67.57. 40,385 shares of the company were exchanged, compared to its average volume of 86,089. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 20.26 and a beta of 1.33. The stock has a 50 day simple moving average of $68.43 and a 200 day simple moving average of $66.29. SPDR S&P Kensho New Economies Composite ETF has a 52-week low of $55.69 and a 52-week high of $75.61.

Institutional Investors Weigh In On SPDR S&P Kensho New Economies Composite ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in KOMP. Orion Porfolio Solutions LLC lifted its stake in shares of SPDR S&P Kensho New Economies Composite ETF by 28.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 45,056 shares of the company’s stock valued at $2,450,000 after purchasing an additional 10,078 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in SPDR S&P Kensho New Economies Composite ETF during the 3rd quarter worth approximately $1,868,000. One Capital Management LLC purchased a new position in SPDR S&P Kensho New Economies Composite ETF in the third quarter valued at approximately $359,000. Raymond James Financial Inc. lifted its position in SPDR S&P Kensho New Economies Composite ETF by 0.9% during the third quarter. Raymond James Financial Inc. now owns 92,632 shares of the company’s stock valued at $5,767,000 after buying an additional 813 shares in the last quarter. Finally, Creative Planning lifted its position in SPDR S&P Kensho New Economies Composite ETF by 2.7% during the third quarter. Creative Planning now owns 8,725 shares of the company’s stock valued at $543,000 after buying an additional 231 shares in the last quarter.

About SPDR S&P Kensho New Economies Composite ETF

The SPDR S&P Kensho New Economies Composite ETF (KOMP) is an exchange-traded fund that is based on the S&P Kensho New Economies Composite index. The fund tracks a tier-weighted index of US-listed companies with products or services that disrupt traditional industries. KOMP was launched on Oct 22, 2018 and is managed by State Street.