Financial Select Sector SPDR Fund (NYSEARCA:XLF) Sees Large Drop in Short Interest

Financial Select Sector SPDR Fund (NYSEARCA:XLF) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 59,590,000 shares, a decline of 32.2% from the September 30th total of 87,910,000 shares. Approximately 5.9% of the company’s shares are sold short. Based on an average trading volume of 37,560,600 shares, the short-interest ratio is currently 1.6 days. Based on an average trading volume of 37,560,600 shares, the short-interest ratio is currently 1.6 days. Approximately 5.9% of the company’s shares are sold short.

Institutional Trading of Financial Select Sector SPDR Fund

A number of institutional investors and hedge funds have recently made changes to their positions in XLF. Kingstone Capital Partners Texas LLC increased its holdings in shares of Financial Select Sector SPDR Fund by 585,941.9% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 228,614,958 shares of the exchange traded fund’s stock worth $11,972,565,000 after buying an additional 228,575,948 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Financial Select Sector SPDR Fund by 2,215.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 48,726,146 shares of the exchange traded fund’s stock worth $2,427,049,000 after buying an additional 46,621,720 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Financial Select Sector SPDR Fund by 37.7% during the 1st quarter. JPMorgan Chase & Co. now owns 150,005,730 shares of the exchange traded fund’s stock worth $7,471,814,000 after buying an additional 41,056,810 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Financial Select Sector SPDR Fund by 100.5% during the 1st quarter. Wellington Management Group LLP now owns 38,567 shares of the exchange traded fund’s stock worth $1,921,000 after buying an additional 7,797,446 shares during the last quarter. Finally, Laurel Wealth Advisors LLC increased its holdings in shares of Financial Select Sector SPDR Fund by 5,614.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,635,354 shares of the exchange traded fund’s stock worth $295,123,000 after buying an additional 5,536,732 shares during the last quarter. 72.51% of the stock is currently owned by institutional investors and hedge funds.

Financial Select Sector SPDR Fund Stock Performance

Shares of XLF opened at $52.37 on Friday. The stock has a fifty day moving average of $53.34 and a two-hundred day moving average of $51.86. The company has a market capitalization of $52.84 billion, a PE ratio of 18.25 and a beta of 0.99. Financial Select Sector SPDR Fund has a fifty-two week low of $42.21 and a fifty-two week high of $54.49.

Financial Select Sector SPDR Fund Company Profile

The Fund seeks to provide investors with a low-cost passive approach for investing in a portfolio of equity securities of firms as represented by the Financial Select Sector Index.