ALPS Equal Sector Weight ETF (NYSEARCA:EQL) Sees Significant Decline in Short Interest

ALPS Equal Sector Weight ETF (NYSEARCA:EQL) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 72,731 shares, a decrease of 81.6% from the May 31st total of 395,814 shares. Based on an average trading volume of 57,089 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.5% of the company’s shares are sold short.

ALPS Equal Sector Weight ETF Stock Up 0.2%

Shares of NYSEARCA EQL opened at $50.15 on Friday. The business’s 50 day moving average is $50.14 and its two-hundred day moving average is $48.71. ALPS Equal Sector Weight ETF has a 52-week low of $43.24 and a 52-week high of $51.08. The firm has a market cap of $696.08 million, a price-to-earnings ratio of 22.84 and a beta of 0.84.

Institutional Investors Weigh In On ALPS Equal Sector Weight ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in ALPS Equal Sector Weight ETF by 8.4% during the 1st quarter. Bank of America Corp DE now owns 1,671,352 shares of the company’s stock worth $79,490,000 after acquiring an additional 129,221 shares in the last quarter. Raymond James Financial Inc. grew its position in ALPS Equal Sector Weight ETF by 205.9% in the 2nd quarter. Raymond James Financial Inc. now owns 922,171 shares of the company’s stock valued at $40,434,000 after acquiring an additional 620,663 shares in the last quarter. Ameriprise Financial Inc. increased its stake in ALPS Equal Sector Weight ETF by 135.6% during the second quarter. Ameriprise Financial Inc. now owns 397,308 shares of the company’s stock worth $17,426,000 after purchasing an additional 228,690 shares during the period. LPL Financial LLC increased its stake in ALPS Equal Sector Weight ETF by 5.3% during the fourth quarter. LPL Financial LLC now owns 307,778 shares of the company’s stock worth $14,275,000 after purchasing an additional 15,574 shares during the period. Finally, Wells Fargo & Company MN increased its stake in ALPS Equal Sector Weight ETF by 9.5% during the fourth quarter. Wells Fargo & Company MN now owns 187,963 shares of the company’s stock worth $8,718,000 after purchasing an additional 16,343 shares during the period.

About ALPS Equal Sector Weight ETF

The ALPS Equal Sector Weight ETF (EQL) is an exchange-traded fund that is based on the NYSE Select Sector Equal Weight index. The fund tracks an equal-weighted index of all select sector SPDR ETFs. EQL was launched on Jul 7, 2009 and is managed by ALPS.