Short Interest in SPDR S&P Pharmaceuticals ETF (NYSEARCA:XPH) Drops By 37.8%

SPDR S&P Pharmaceuticals ETF (NYSEARCA:XPH) saw a significant decline in short interest in March. As of March 13th, there was short interest totaling 383,310 shares, a decline of 37.8% from the February 26th total of 616,003 shares. Based on an average daily volume of 94,254 shares, the days-to-cover ratio is currently 4.1 days. Currently, 7.4% of the shares of the stock are sold short.

Hedge Funds Weigh In On SPDR S&P Pharmaceuticals ETF

Institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. purchased a new position in shares of SPDR S&P Pharmaceuticals ETF in the 3rd quarter worth about $10,732,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of SPDR S&P Pharmaceuticals ETF by 6.7% during the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 171,930 shares of the company’s stock valued at $8,242,000 after buying an additional 10,842 shares in the last quarter. Park Avenue Securities LLC purchased a new position in shares of SPDR S&P Pharmaceuticals ETF during the 3rd quarter valued at about $485,000. Clark Capital Management Group Inc. bought a new stake in SPDR S&P Pharmaceuticals ETF in the 3rd quarter worth approximately $2,248,000. Finally, Team Financial Group LLC bought a new stake in SPDR S&P Pharmaceuticals ETF in the 4th quarter worth approximately $56,000.

SPDR S&P Pharmaceuticals ETF Stock Down 2.8%

Shares of XPH stock traded down $1.52 during trading on Friday, hitting $51.87. The company had a trading volume of 15,945 shares, compared to its average volume of 103,089. The stock’s 50-day moving average is $55.86 and its two-hundred day moving average is $53.06. The stock has a market capitalization of $269.72 million, a price-to-earnings ratio of 14.28 and a beta of 0.60. SPDR S&P Pharmaceuticals ETF has a 52 week low of $35.22 and a 52 week high of $58.84.

SPDR S&P Pharmaceuticals ETF Company Profile

SPDR S&P Pharmaceuticals ETF (the Fund) seeks to replicate as closely as possible the total return performance of the S&P Pharmaceuticals Select Industry Index. The S&P Pharmaceuticals Select Industry Index represents the pharmaceuticals sub-industry portion of the S&P Total Markets Index. The S&P TMI tracks all the United States common stocks listed on the New York Stock Exchange, American Stock Exchange, National Association of Securities Dealers Automated Quotation (NASDAQ) National Market and NASDAQ Small Cap exchanges.