Technology Select Sector SPDR Fund (XLK) Sees Significant Growth in Short Interest

Technology Select Sector SPDR Fund (NYSEARCA:XLK) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 20,778,867 shares, an increase of 18.6% from the August 15th total of 17,516,138 shares. Based on an average daily trading volume, of 8,884,384 shares, the days-to-cover ratio is presently 2.3 days.

A number of institutional investors have recently bought and sold shares of the stock. Colony Group LLC boosted its stake in shares of Technology Select Sector SPDR Fund by 4.9% during the 2nd quarter. Colony Group LLC now owns 15,596 shares of the exchange traded fund’s stock valued at $1,083,000 after buying an additional 726 shares during the period. Northern Oak Wealth Management Inc. boosted its stake in shares of Technology Select Sector SPDR Fund by 1.1% during the 1st quarter. Northern Oak Wealth Management Inc. now owns 68,217 shares of the exchange traded fund’s stock valued at $4,462,000 after buying an additional 737 shares during the period. Butensky & Cohen Financial Security Inc. boosted its stake in shares of Technology Select Sector SPDR Fund by 5.4% during the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 15,029 shares of the exchange traded fund’s stock valued at $1,044,000 after buying an additional 770 shares during the period. Community Bank N.A. boosted its stake in shares of Technology Select Sector SPDR Fund by 11.1% during the 2nd quarter. Community Bank N.A. now owns 8,019 shares of the exchange traded fund’s stock valued at $557,000 after buying an additional 800 shares during the period. Finally, Dorsey Wright & Associates boosted its stake in shares of Technology Select Sector SPDR Fund by 1.0% during the 2nd quarter. Dorsey Wright & Associates now owns 84,878 shares of the exchange traded fund’s stock valued at $5,896,000 after buying an additional 812 shares during the period.

Separately, Morgan Stanley lowered shares of Technology Select Sector SPDR Fund to an “underweight” rating in a research report on Monday, July 9th.

Technology Select Sector SPDR Fund stock opened at $74.00 on Tuesday. Technology Select Sector SPDR Fund has a 52 week low of $57.57 and a 52 week high of $76.03.

Technology Select Sector SPDR Fund Company Profile

Sector SPDR Trust SBI Interest, formerly Technology Select Sector SPDR Fund, seeks to provide investment results that correspond to the price and yield performance of the Technology Select Sector of the S&P 500 Index (the Index). The Index includes companies primarily involved in industries, such as information technology (IT) consulting, semiconductor equipment and products, computers and peripherals, diversified telecommunication services and wireless telecommunication services.It utilizes a passive or indexing investment approach to invest in a portfolio of stocks that seek to replicate the Index.

Further Reading: Momentum Indicator: Relative Strength Index

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