Consumer Staples Select Sector SPDR Fund (NYSEARCA:XLP) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 29,045,472 shares, an increase of 26.2% from the August 15th total of 23,011,090 shares. Based on an average trading volume of 11,659,826 shares, the days-to-cover ratio is currently 2.5 days.

A number of hedge funds and other institutional investors have recently made changes to their positions in XLP. Destination Wealth Management increased its position in shares of Consumer Staples Select Sector SPDR Fund by 36,382.5% during the second quarter. Destination Wealth Management now owns 87,558 shares of the exchange traded fund’s stock worth $4,512,000 after buying an additional 87,318 shares during the period. Wagner Bowman Management Corp increased its position in shares of Consumer Staples Select Sector SPDR Fund by 5.2% during the second quarter. Wagner Bowman Management Corp now owns 67,385 shares of the exchange traded fund’s stock worth $3,472,000 after buying an additional 3,338 shares during the period. Financial Advocates Investment Management increased its position in shares of Consumer Staples Select Sector SPDR Fund by 12.2% during the second quarter. Financial Advocates Investment Management now owns 11,576 shares of the exchange traded fund’s stock worth $593,000 after buying an additional 1,263 shares during the period. Bruderman Asset Management LLC increased its position in shares of Consumer Staples Select Sector SPDR Fund by 10.0% during the first quarter. Bruderman Asset Management LLC now owns 80,615 shares of the exchange traded fund’s stock worth $4,243,000 after buying an additional 7,302 shares during the period. Finally, Natixis boosted its stake in Consumer Staples Select Sector SPDR Fund by 84.8% during the first quarter. Natixis now owns 2,050,000 shares of the exchange traded fund’s stock worth $107,892,000 after acquiring an additional 940,520 shares in the last quarter.

Shares of NYSEARCA XLP opened at $54.76 on Monday. Consumer Staples Select Sector SPDR Fund has a 52-week low of $48.76 and a 52-week high of $58.95.

Consumer Staples Select Sector SPDR Fund Company Profile

Consumer Staples Select Sector SPDR Fund (the Fund) seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of publicly traded equity securities of companies in The Consumer Staples Select Sector Index (the Index).The Fund typically invests in substantially all of the securities represented in the Index in approximately the same proportions as the Index.

Read More: Outstanding Shares and The Effect on Share Price

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