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

Financial Select Sector SPDR Fund (NYSEARCA:XLF) saw a significant increase in short interest in February. As of February 27th, there was short interest totaling 119,121,653 shares, an increase of 33.6% from the February 12th total of 89,171,222 shares. Approximately 11.5% of the shares of the stock are sold short. Based on an average daily volume of 60,979,729 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily volume of 60,979,729 shares, the days-to-cover ratio is currently 2.0 days. Approximately 11.5% of the shares of the stock are sold short.

Institutional Investors Weigh In On Financial Select Sector SPDR Fund

Several large investors have recently added to or reduced their stakes in the stock. Greykasell Wealth Strategies Inc. bought a new stake in shares of Financial Select Sector SPDR Fund in the 3rd quarter valued at approximately $29,000. Abich Financial Wealth Management LLC bought a new position in shares of Financial Select Sector SPDR Fund in the third quarter worth about $29,000. Wexford Capital LP purchased a new position in Financial Select Sector SPDR Fund in the 3rd quarter worth about $29,000. Aventura Private Wealth LLC purchased a new position in Financial Select Sector SPDR Fund in the 4th quarter worth about $31,000. Finally, Intesa Sanpaolo Wealth Management bought a new stake in Financial Select Sector SPDR Fund during the 4th quarter valued at about $35,000. 72.51% of the stock is owned by institutional investors.

Financial Select Sector SPDR Fund Stock Performance

Shares of NYSEARCA:XLF traded up $0.06 on Friday, reaching $48.89. The company’s stock had a trading volume of 47,586,388 shares, compared to its average volume of 55,858,109. The company has a 50-day simple moving average of $52.83 and a 200 day simple moving average of $53.24. Financial Select Sector SPDR Fund has a 52-week low of $42.21 and a 52-week high of $56.51. The company has a market cap of $50.58 billion, a P/E ratio of 18.25 and a beta of 0.99.

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.