MGM Leads Consumer Discretionary in Shorts; Amazon Has Least
MGM Resorts International (MGM) topped the list of most shorted stocks in the consumer discretionary sector, with 11.92% of its shares float. This was followed by Speciality and Retail at 6.77%, and Apparel, Accessories, and Luxury Goods at 6.34%.
The average short interest across S&P 500 consumer discretionary stocks stood at 2.52% by the end of September. Short positioning in the sector remained largely stable during this period. Despite this, the Consumer Discretionary Select Sector SPDR Fund (XLY) has seen a 4.24% rise so far this year.
Broadline Retail and Home Improvement Retail had the lowest short positions within the sector, at 0.83% and 1.26% respectively. Conversely, Computer and Electronics Retail was the most shorted industry, with 7.64%. Among individual stocks, Amazon.com (AMZN) had the lowest short position, with only 0.80% of its shares float.
While MGM Resorts International led in short positions, Amazon.com had the least. The sector's short interest was generally stable, and the XLY fund has performed positively this year.
