Consumer Discretionary SPDR (NYSEARCA:XLY) was the target of a significant increase in short interest in December. As of December 29th, there was short interest totalling 12,158,036 shares, an increase of 23.5% from the December 15th total of 9,843,683 shares. Based on an average daily trading volume, of 3,358,999 shares, the days-to-cover ratio is currently 3.6 days.
Separately, Morgan Stanley lowered Consumer Discretionary SPDR to an “underweight” rating in a research note on Monday, September 25th.
A number of hedge funds have recently made changes to their positions in XLY. JPMorgan Chase & Co. lifted its stake in Consumer Discretionary SPDR by 138.7% in the third quarter. JPMorgan Chase & Co. now owns 1,575,851 shares of the exchange traded fund’s stock worth $141,417,000 after acquiring an additional 915,623 shares during the period. National Mutual Insurance Federation of Agricultural Cooperatives purchased a new stake in Consumer Discretionary SPDR in the third quarter worth $50,175,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Consumer Discretionary SPDR by 96.9% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 937,048 shares of the exchange traded fund’s stock worth $83,993,000 after acquiring an additional 461,229 shares during the period. Ameriprise Financial Inc. lifted its stake in Consumer Discretionary SPDR by 20.5% in the third quarter. Ameriprise Financial Inc. now owns 1,924,107 shares of the exchange traded fund’s stock worth $173,334,000 after acquiring an additional 327,378 shares during the period. Finally, Swan Global Investments LLC lifted its stake in Consumer Discretionary SPDR by 6.4% in the third quarter. Swan Global Investments LLC now owns 4,190,097 shares of the exchange traded fund’s stock worth $376,019,000 after acquiring an additional 252,615 shares during the period.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 26th. Investors of record on Monday, December 18th were paid a $0.3319 dividend. This is a positive change from Consumer Discretionary SPDR’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, December 15th. This represents a $1.33 dividend on an annualized basis and a yield of 1.26%. Consumer Discretionary SPDR’s dividend payout ratio (DPR) is presently 15.89%.
COPYRIGHT VIOLATION NOTICE: This piece was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another site, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/16/consumer-discretionary-spdr-xly-sees-significant-increase-in-short-interest.html.
About Consumer Discretionary SPDR
Consumer Discretionary Select Sector SPDR Fund seeks to provide investment results that correspond generally to the price and yield performance of the Consumer Discretionary Select Sector Index (the Index). The Index includes companies from the following industries, media; retail (specialty, multiline, Internet and catalog); hotels, restaurants and leisure; textiles, apparel and luxury goods; household durables; automobiles; auto components; distributors; leisure equipment and products; and diversified consumer services.
Receive News & Ratings for Consumer Discretionary SPDR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consumer Discretionary SPDR and related companies with MarketBeat.com's FREE daily email newsletter.