Investing
Nasdaq Short Interest: Big Bets Against Financials And Tech
Published:
Nasdaq released short interest in stocks listed on the exchange for the period ending November 15 compared to the numbers on October 31. Short sellers made substantial bets that some financial and tech stocks would have sharp downward corrections.
Shares sold short in E*Trade (ETFC) rose 22.2 million to 51.8 million. Short shares in the Nasdaq Stock Market (NDAQ) rose 1.9 million to 8.1 million.
Investors believe that shares in Sirius (SIRI) are going to fall. Sharse sold short in the company moved up 23.6 million to 103 million. Short sellers think Level 3 (LVLT) will continue its slide increasing short interest by 10.5 million to 150.1 million. Shares short in Microsoft (MSFT) rose 7.6 million to 108.8 million, a sign that some on Wall St. think its rally is over.
Palm (PALM) and Clearwire (CLWR) two tech stocks with big cult followings both got hit. Short interest in Palm moved up 9.3 million shares to 35 million. Clearwire, fresh off a broken joint venture with Sprint (S) saw shares sold short move up 3.9 million to 11.4 million.
On the plus side, shorts moved out of Sun (JAVA), buy reducing their interest by 23.8 million to 16 million. Yahoo! (YHOO) got a vote of confidence. Shares sold short in the stock fell 11.7 million to 54.3 million. Short sellers also reduced their interest in Intel (INTC) by 5.8 million to 70.1 million. Shorts think Comcast (CMCSA) may have bottomed, decreasing shares sold short by 6 million to 15.1 million.
Largest Short Positions
Company Shares Sold Short
Level 3 150.1 million
Micorosft 108.9 million
Sirius 103.0 million
Charter (CHTR) 100.7 million
Intel 70.1 million
Yahoo! 54.3 million
E*Trade 51.8 million
Comcast 43.8 million
Cisco (CSCO) 40.4 million
Dell (DELL) 36.6 million
Largest Increases In Short Positions
Company Increase In Shares Short
Sirius 23.5 million shares
E*Trade 22.2 million
Level 3 10.5 million
Palm 9.3 million
Microsoft 7.6 million
Clearwire 3.9 million
Largest Decreases In Short Position
Company Decrease In Shares Short
Sun 23.8 million decrease
Atmel 19.4 million
BEA Systems (BEAS) 16.4 million
Yahoo! 11.8 million
Network Appliance 8..2 million
Comcast 6.0 million
Intel 5.8 million
Data from WSJ and Nasdaq
Douglas A. McIntyre
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