Short Interest in Texas Oil Index ETF (NYSEARCA:OILT) Declines By 89.8%

Texas Oil Index ETF (NYSEARCA:OILT) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 640 shares, a drop of 89.8% from the April 30th total of 6,269 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 6,208 shares, the days-to-cover ratio is presently 0.1 days.

Texas Oil Index ETF Stock Down 0.9%

NYSEARCA:OILT traded down $0.26 during mid-day trading on Friday, reaching $29.30. 2,880 shares of the stock were exchanged, compared to its average volume of 7,539. The company has a 50 day simple moving average of $31.28 and a 200-day simple moving average of $27.21. The stock has a market capitalization of $13.77 million, a P/E ratio of 21.39 and a beta of -0.09. Texas Oil Index ETF has a 1 year low of $20.58 and a 1 year high of $34.32.

About Texas Oil Index ETF

The Texas Capital Texas Oil Index ETF (OILT) is an exchange-traded fund that is based on the Alerian Texas Weighted Oil and Gas index. The fund is passively managed ETF, tracking an economic-value weighted index that contains stocks of companies that extract oil and gas within Texas. The resulting portfolio is a narrow basket of approximately 30 stocks OILT was launched on Dec 20, 2023 and is issued by Texas Capital.