iShares Exponential Technologies ETF (NASDAQ:XT) Short Interest Update

The iShares Exponential Technologies ETF (NASDAQ:XT) has recently seen a significant rise in short interest as of October 15, 2024. The total short interest reached 63,900 shares, marking an increase of 66.0% from the prior month, when it stood at 38,500 shares on September 30.

Short Interest Details

This increase in short interest indicates growing bearish sentiment among investors. With an average daily trading volume of 106,900 shares, the days-to-cover ratio currently sits at around 0.6 days. This ratio reflects how many days it would take to cover all short positions based on the current trading volume.

Institutional Holdings Adjustments

Several institutional investors have made notable changes to their positions in the iShares Exponential Technologies ETF. For instance, Strategic Financial Concepts LLC entered a new position worth approximately $65,000 in the second quarter. Similarly, Ashton Thomas Private Wealth LLC invested about $104,000 in the same period. Graypoint LLC purchased a position valued at around $220,000 during the second quarter as well. Other significant investors include Cetera Advisors LLC, who increased their holdings by 7.6% during the first quarter, now owning 3,856 shares valued at $230,000 after acquiring an additional 273 shares. CFO4Life Group LLC also bought into the ETF in the first quarter, representing a stake worth about $235,000.

Current Stock Performance

As of Monday, shares of the iShares Exponential Technologies ETF opened at $60.16. Over the past year, the stock has experienced a low of $48.10 and a high of $61.60. Its fifty-day moving average stands at $59.60, while the 200-day moving average is at $58.69. With a market capitalization of $3.46 billion, the ETF has a price-to-earnings ratio of 23.27 and a beta of 1.02, indicating a moderate level of volatility compared to the overall market.

Company Overview

The iShares Exponential Technologies ETF focuses on investments in the information technology sector. It tracks an equal-weighted index, providing exposure to companies that are involved in or utilize exponential technologies, as defined by Morningstar. This approach showcases a diverse mix of firms from both developed and emerging markets, offering investors a broad perspective in the rapidly evolving tech landscape.

ETF, Short, Investment