S&P 500
7,401.00
+0.91%
Dow Jones
49,665.70
+0.19%
Nasdaq 100
29,241.00
+2.43%
Russell 2000
2,860.88
+0.82%
FTSE 100
10,263.70
+0.48%
Nikkei 225
63,767.70
+2.68%

Investing

Shorts Flee Financials, Attack Industrials And Tech

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
Short sellers jumped out of major financial shares but piled into the stocks for major industrial firms based on data as of June 15. Shorts clearly think the restructuring of the bank industry has taken hold permanently, but that the manufacturing industry is still likely to be troubled.

The short interest in Citigroup (C) dropped 3% to 1.244 billion. Shares sold short in Bank of America (BAC) dropped 20% to 95.5 billion. The short interest in AIG (AIG) fell 4% to 228.7 million shares.

Shares short in JPMorgan (JPM) fell 12% to 48.6 million. The short interest in KeyCorp (KEY) was off 15% to 27.7 million. Shares short in US Bancorp (USB) dropped 5% to 60.4 milloin. The short interest in Aflac (ALF) was down 39% to 8.3 million and shares sold short in Allstate (ALL) fell 27% to 8.5 million.

The only large financial stock with a significant increase in short interest was Wells Fargo (WFC) where shares sold short moved up 8% to 116.7.

Short sellers made a large bet against Ford (F) shares raising their interest by 17% to 136 million. The short interest in Boeing (BA) was up 35% to 22.6 million. The short interest n Caterpiller (CAT) moved higher by 10% to 46.1 million. Shares short in Exxon (XOM) were up 17% to 34.1 million.

Short sellers clearly think the rebound in the Nasdaq and tech shares will be short-lived. They increased their interest in Intel (INTC) by 1% to 115.1 million shares. The short interest in Microsoft (MSFT) was up 24% to 70.6 million. Share short in Dell (DELL) rose 25% to 52.5 million. The short interest in Cisco (CSCO) was up 16% to 51.8 million. Shares short in Oracle (ORCL) were up 7% to 40 million. The short interest in Palm (PALM) rose 11% to 38.3 million.

Data from NYSE and NASDAQ

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Douglas A. McIntyre |

Short Sellers Move Back Into Financial Shares, Ignore Tech: Flee Apple (AAPL), Google (GOOG) And Amazon (AMZN)

Short sellers sharply increased their gamble that financial stocks would fall based on short selling data from NYSE and Nasdaq…

Douglas A. McIntyre |

Nasdaq Short Interest: Big Bets Against Financials And Tech

Nasdaq released short interest in stocks listed on the exchange for the period ending November 15 compared to the numbers…

Douglas A. McIntyre |

Short Sellers Abandon Financial Shares, Tech Stocks

Short sellers are not longer willing to gamble on a collapse in the share prices of America’s largest financial firms.…

Douglas A. McIntyre |

Short Interest Shows Gamble Against Tech

Many tech stocks have doubled or tripled from the March market lows. Short sellers are in many cases willing to…

Douglas A. McIntyre |

Short Sellers Mob Big Banks And Telecoms (BAC)(C)(VZ)(T)

Short sellers took huge positions in major banks and telecom companies in the two-week period ending December 15. The short interest…

Douglas A. McIntyre |

Short Interest Highlights: Out Of Banks And Into GE (GE)

Short sellers are will to bet, at least for now, that the worst of the banking earning crisis is over.…

Douglas A. McIntyre |

Short Sellers Leave Financials, Mixed on Tech

Short sellers reduced their positions in major financial firms and their positions in major tech stocks were divided, based on…

Douglas A. McIntyre |

Shorts, Back In Financials, Probably Got Buried. Cut Bets On Tech

Short sellers were figuring that after the bank rally late last month, banks shares were likely to give back some…

Douglas A. McIntyre |

The Shorts Get Out Of Banks And Into Tech (C)(WFC)(WB)(BAC)(MBI)(AIG)(INTC)(MSFT)(ORCL)(DELL)(QCOM)(SIRI)(F)

For the period ending October 15, short sellers got out of most banks and brokerage stocks. That is a shame…

Top Gaining Stocks

Akamai
AKAM • Vol: 21,556,944
Micron Technology
MU • Vol: 65,135,624
Intel
INTC • Vol: 227,504,426
Monster Beverage
MNST • Vol: 15,284,847
Dell Technologies
DELL • Vol: 12,167,525

Top Losing Stocks

Mettler Toledo International
MTD • Vol: 539,266
Motorola Solutions
MSI • Vol: 3,101,643
Expedia
EXPE • Vol: 4,189,786
Coterra Energy
CTRA • Vol: 73,319,495
Fidelity National Information Services
FIS • Vol: 11,468,820