XLF Dark Pool Activity
State Street Financial Select S
Data as of Oct 26, 2026 · Source: FINRA daily short sale volume (off-exchange)
On Oct 26, 2026, FINRA reported 6.7M XLF shares in publicly disseminated off-exchange trades (dark pools and other off-exchange venues). 4.6M of those shares (67.5%) were marked short or short-exempt, above XLF's 30-day rolling average of 58.3% (z-score 0.70). Over the last 10 FINRA sessions (Oct 13, 2026 – Oct 26, 2026), XLF's off-exchange short volume ratio ranged from 43.5% to 73.5% and averaged 58.2%; the latest reading is above that 10-session average.
Off-Exchange Volume
6.7M
Short Volume
4.6M
Short Volume Ratio
67.5%
30-Day Average
58.3%
z-score 0.70
Daily readings — last 10 FINRA sessions
| Date | Off-exchange shares | Short shares | Short ratio |
|---|---|---|---|
| Oct 13, 2026 | 13.9M | 7.4M | 53.4% |
| Oct 14, 2026 | 14.1M | 8.5M | 60.6% |
| Oct 15, 2026 | 18.1M | 13.3M | 73.5% |
| Oct 16, 2026 | 12.7M | 7.7M | 60.8% |
| Oct 19, 2026 | 10.1M | 5.0M | 49.8% |
| Oct 20, 2026 | 6.3M | 3.6M | 57.0% |
| Oct 21, 2026 | 11.9M | 6.3M | 53.3% |
| Oct 22, 2026 | 9.8M | 6.1M | 62.3% |
| Oct 23, 2026 | 11.1M | 4.8M | 43.5% |
| Oct 26, 2026 Latest | 6.7M | 4.6M | 67.5% |
Source: FINRA daily short sale volume (off-exchange). Ratio = ShortVolume ÷ TotalVolume for the day.
XLF dark pool FAQ
- How much XLF off-exchange volume did FINRA report on Oct 26, 2026?
- FINRA's daily short sale volume file reported 6.7M XLF shares in publicly disseminated off-exchange trades on Oct 26, 2026; 4.6M of those shares (67.5%) were marked short or short-exempt.
- Is XLF's dark pool short volume ratio unusual right now?
- As of Oct 26, 2026, XLF's short volume ratio of 67.5% is above XLF's 30-day rolling average of 58.3% (z-score 0.70). Meridian's dark pool model does not flag this reading as an anomaly.
- What does the dark pool short volume ratio measure?
- FINRA publishes daily short sale volume for trades reported off-exchange to its trade reporting facilities, which include dark pools and other off-exchange venues. The ratio divides FINRA's ShortVolume figure, which counts both short and short-exempt sales, by the total off-exchange shares reported for that day. It is not short interest and not a directional signal: market-maker hedging and reporting mechanics can raise it, so it is context for other signals.