Short Seller Rush Out Of Financial Stocks, Tech, And Retail

Short sellers moved out of financial shares in great numbers.

As of August 11, the short interest in Citigroup (C) fell 71% to 343 million shares. Share sold short in GE (GE) fell 15% to 143 million. The short interest in Wells Fargo (WFC) was down by 9% to 99 million. Shares sold short in American Express (AXP) dropped 20% to 36 million. The short interest in Capitol One (COF) dropped 19% to 30 million. Shares sold short in Visa (V) dropped 22% to 15 million.

Short sellers also moved out of major tech shares. Shares short in Texas Instruments (TXN) fell 13% to 29 million. The short interest in AMD (AMD) dropped 10% to 65 million. Shares sold short in Microsoft (MSFT) fell 16% to 68 million. The short interest in Cisco (CSCO) was down 9% to 52 million. Share short in Nvidia (NVDA) dropped 10% to 37 million. Shares sold short in Oracle (ORCL) fell 14% to 34 million, and the short interest in Qualcomm (QCOM) was down 24% to 31 million.

Short sellers also pulled out of most large retailers. Short interest in Wal-Mart (WMT) fell 20% to 28 million. Shares short in Home Depot (HD) dropped 13% to 48 million. Shares short in Lowe’s (LOW) were down 16% to 25 million.

Data from NYSE and Nasdaq.

Douglas A. McIntyre