Tapestry, Inc. (TPR), parent company of Coach, Kate Spade New York, and Stuart Weitzman, has seen increased investment from hedge funds on the long side while short interest has declined.

Fundamental, multi-manager and quant hedge funds increased long positions in TPR.

TPR Short interest -44% since the start of the year, reflecting a multi-month downtrend in bearish positions rather than technical pressure or forced covering.

The reduction in short interest occurred without earnings surprises, suggesting a quiet reversal of short side positioning rather than a reaction to new information.

TPR share price +24% YTD putting the firm’s market cap, $16.98B, a further increase of 21% away from the S&P 500 minimum market cap threshold $20.5B.

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