SPDR FactSet Innovative Technology ETF (NYSEARCA:XITK) Sees Significant Growth in Short Interest
by Mitch Edgeman · The Markets DailySPDR FactSet Innovative Technology ETF (NYSEARCA:XITK – Get Free Report) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 427 shares, a growth of 132.1% from the February 26th total of 184 shares. Based on an average trading volume of 5,235 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the shares of the company are sold short.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in shares of SPDR FactSet Innovative Technology ETF in the second quarter valued at about $142,000. Wells Fargo & Company MN raised its holdings in SPDR FactSet Innovative Technology ETF by 2,153.7% in the 4th quarter. Wells Fargo & Company MN now owns 2,141 shares of the company’s stock valued at $382,000 after acquiring an additional 2,046 shares in the last quarter. Osaic Holdings Inc. raised its holdings in SPDR FactSet Innovative Technology ETF by 72.2% in the 4th quarter. Osaic Holdings Inc. now owns 3,725 shares of the company’s stock valued at $665,000 after acquiring an additional 1,562 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of SPDR FactSet Innovative Technology ETF by 14.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,204 shares of the company’s stock worth $796,000 after acquiring an additional 523 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of SPDR FactSet Innovative Technology ETF by 15,685.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 8,840 shares of the company’s stock worth $1,577,000 after acquiring an additional 8,784 shares during the period.
SPDR FactSet Innovative Technology ETF Price Performance
XITK stock traded down $4.61 on Friday, reaching $144.22. 3,332 shares of the company were exchanged, compared to its average volume of 2,409. The firm has a market capitalization of $60.57 million, a PE ratio of 27.20 and a beta of 1.23. SPDR FactSet Innovative Technology ETF has a 12 month low of $138.01 and a 12 month high of $196.86. The stock’s fifty day moving average price is $156.44 and its 200 day moving average price is $174.28.
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.