Short sellers moved into the shares of large financial firms, perhaps sensing the effects of new regulation and an exit from proprietary trading businesses.
The short interest in Citigroup (NYSE: C) rose 4.8% to 423.8 million, the largest short position in any stock. Shares short in Wells Fargo (NYSE: WFC) rose 21% to 53.2 million. The short interest in Ambac, which recently went bankrupt rose 14% to 59.2 million. Share short in Bank of NY rose 27% to 21.1 million. Shares short in Synovus Financial were up 9% to 106.9 million. Shares short in KeyCorp rose 9% to 34.6 million
Short interest in tech shares fell almost universally. Shares sold short in Microsoft (NASDAQ: MSFT) fell 9% to 70.5 million. The short interest in Intel (NASDAQ: INTC) fell 8% to 53.3 million. Shares short in Dell (NASDAQ: DELL) were down 8% to 47.9 million. Shares short in Cisco (NASDAQ: CSCO) were off 6% to 49.6 million
The most shorted stocks on the NYSE were Citigroup, Ford (NYSE F), and Qwest (NYSE: Q). The most shorted stocks on the NASDAQ were Sirius XM Radio (NASDAQ: SIRI), Level 3 (NASDAQ: LVLT) and Mylan (NASDAQ: MYL)
Data from NYSE and NASDAQ
Douglas A. McIntyre
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.