Technology Select Sector SPDR Fund (NYSEARCA:XLK) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 20,547,460 shares, a decline of 12.2% from the April 30th total of 23,394,810 shares. Based on an average trading volume of 12,426,629 shares, the days-to-cover ratio is currently 1.7 days.

A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in shares of Technology Select Sector SPDR Fund by 122.7% during the 1st quarter. JPMorgan Chase & Co. now owns 2,888,447 shares of the exchange traded fund’s stock worth $188,962,000 after buying an additional 1,591,469 shares during the last quarter. LPL Financial LLC lifted its position in shares of Technology Select Sector SPDR Fund by 2.6% during the 1st quarter. LPL Financial LLC now owns 1,994,461 shares of the exchange traded fund’s stock worth $130,478,000 after buying an additional 50,700 shares during the last quarter. Mizuho Bank Ltd. lifted its position in shares of Technology Select Sector SPDR Fund by 129.4% during the 1st quarter. Mizuho Bank Ltd. now owns 1,950,000 shares of the exchange traded fund’s stock worth $127,569,000 after buying an additional 1,100,000 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Technology Select Sector SPDR Fund by 7.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,702,071 shares of the exchange traded fund’s stock worth $111,349,000 after buying an additional 115,653 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Technology Select Sector SPDR Fund by 480.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,553,519 shares of the exchange traded fund’s stock worth $101,631,000 after buying an additional 1,286,080 shares during the last quarter.

Technology Select Sector SPDR Fund stock traded up $0.51 during trading on Thursday, reaching $72.25. The stock had a trading volume of 11,325,358 shares, compared to its average volume of 14,862,894. Technology Select Sector SPDR Fund has a 52-week low of $54.25 and a 52-week high of $72.43.

About Technology Select Sector SPDR Fund

Sector SPDR Trust SBI Interest, formerly Technology Select Sector SPDR Fund, seeks to provide investment results that correspond to the price and yield performance of the Technology Select Sector of the S&P 500 Index (the Index). The Index includes companies primarily involved in industries, such as information technology (IT) consulting, semiconductor equipment and products, computers and peripherals, diversified telecommunication services and wireless telecommunication services.It utilizes a passive or indexing investment approach to invest in a portfolio of stocks that seek to replicate the Index.

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