Significant Surge in Short Interest for iShares Exponential Technologies ETF (NASDAQ:XT)

The iShares Exponential Technologies ETF (NASDAQ:XT) experienced a remarkable rise in short interest throughout November. By the end of November, short interest had reached 257,100 shares, marking an impressive increase of 235.2% compared to the November 15 figure of 76,700 shares. Given the average trading volume of 142,600 shares, the current short-interest ratio stands at 1.8 days.

Institutional Investment Trends

Recent trading activities show that several institutional investors and hedge funds have either increased their holdings in the iShares Exponential Technologies ETF or reduced them. For instance, Alpha Financial Advisors LLC boosted its stake in the ETF by 1.2% during the third quarter, bringing its total ownership to 371,483 shares valued at about $22.6 million after acquiring an additional 4,289 shares in that quarter. Similarly, Stratos Wealth Advisors LLC raised its investment by 37.9%, now holding 205,810 shares worth around $12.5 million after adding 56,514 shares. Stratos Investment Management LLC also saw an 18.8% increase in its stake, owning 183,218 shares valued at approximately $11.2 million after acquiring an extra 29,058 shares. Additionally, AlphaCore Capital LLC raised its stake by 4.8%, now holding 173,464 shares worth close to $10.6 million after purchasing 7,888 shares. Strategic Financial Concepts LLC entered the sector with a new investment valued around $65,000.

Current Stock Performance

As of Thursday, the iShares Exponential Technologies ETF opened at a price of $62.37. The ETF has a 50-day moving average price of $60.81 and a two-hundred-day moving average price of $59.49. The total market capitalization stands at $3.59 billion, with a price-to-earnings (P/E) ratio of 23.27 and a beta of 1.02. Over the past year, the ETF has seen a low of $53.00 and a high of $63.37.

About iShares Exponential Technologies ETF

The iShares Exponential Technologies ETF (XT) is designed to invest mainly in equity from the information technology sector. This exchange-traded fund tracks an equal-weighted index, providing exposure to companies engaged in the creation or utilization of exponential technologies, as defined by Morningstar.

iShares, ETF, stocks