Investing
Short Sellers Abandon Financials (WFC)(CIT)(BAC)(JPM)
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Short sellers have bought into the notion that the financial industry is in full recovery.
Shares sold short in Wells Fargo (NYSE:WFC) fell 8% to 78.8 million shares. Shares short in CIT (NYSE:CIT) were off 4% to 78.1 million. The short interest in Bank of America (NYSE:BAC) dropped 12% to 67 million. The short interest in JPMorgan (NYSE:JPM) dropped 4% to 37.7 million.
Short bets on tech were mixed, a sign that some investors see an uneven recovery in the sector. Shares sold short in Microsoft (NYSE:MSFT) rose 2% to 77.7 million. Shares short in Intel (NASDAQ:INTC) were down 7% to 67.5 million. The short interest in Dell (NYSE:DELL) was down 5% to 38.5 million. Shares short in Oracle (NASDAQ:ORCL) rose 5% to 32.6.
Among other notable stocks Starbucks (NASDAQ:SBUX) short interest rose 9% to 29.3 million. Short interest in Comcast (NASDAQ:CMCSA) fell 12% to 39.4 million. Shares short in Qualcomm (NASDAQ:QCOM) were down 15%.
Shares short in Ford (NYSE:F) fell 8% to 94. million. Short interest in GE (NYSE:GE) was off 7% to 104 million.
Data from NYSE and NASDAQ,
Douglas A. McIntyre
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