Investing

7 Most Heavily Shorted Nasdaq Stocks

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Source: courtesy of Sirius XM Radio
Here is a look at the seven Nasdaq-traded stocks with the largest number of shares held short as of June 30. Six of the seven experienced declines in short interest, and although they have changed positions since the last report on short interest, these remain the most heavily shorted stocks on the Nasdaq.

Sirius XM Holdings Inc. (NASDAQ: SIRI) saw its short interest rise by 0.9% to 318.2 million shares, about 11.5% of the stock’s float. Days to cover is now six. The stock rose about 3.8% in the two-week period to June 30 and closed at $3.38 Thursday night, up another 0.9%. The 52-week range is $2.98 to $4.18. The share price has dropped 2.3% since July 1.

For Intel Corp. (NASDAQ: INTC), short interest fell 4.6% to 174.35 million shares. About 3.5% of Intel’s float is now short and days to cover is five. The stock’s price rose about 3.5% during the two-week period, and it is up more than 21% year-to-date. The stock closed at $31.26 Thursday, in a 52-week range of $21.89 to $31.36. Shares have risen about 0.9% since July 1.

Short interest in Frontier Communications Corp. (NASDAQ: FTR) rose 0.3% in the two-week period to June 30. Some 171.9 million shares are currently held short, representing 17.3% of the company’s float and a days-to-cover number of 21. The company’s famously generous dividend yield has slipped to 7% from more than 8% in late February. Shares closed at $5.73, in a 52-week range of $3.99 to $6.10. They posted a share price increase of about 3.5% for the two-week short-interest period. Since July 1 the stock has lost nearly 2%.

ALSO READ: Apple Short Interest Drops by 13 Million

Micron Technology Inc. (NASDAQ: MU) has 121.76 million shares held short, up 4.1% from the number held short on June 15 and 11.5% of the company’s float. Days to cover is four for the heavily traded stock. Shares rose 5.7% in the two-week period to June 30, and they are up more than 51% year-to-date. Shares closed at $32.77 on Thursday, in a 52-week range of $12.31 to $34.50. The share price has dropped more than 3.5% since July 1.

Apple Inc. (NASDAQ: AAPL) remained in the top five shorted stocks on the Nasdaq, but the number of shares held short fell by 10% to 112.31 million. Days to cover is two, and just 1.9% of Apple’s shares are held short. The stock price has risen just 2% in the two-week period to June 30, and shares closed at $95.04 on Thursday, in a 52-week range of $59.75 to $96.80. Since July 1, the shares are up about 1.6%.

Gilead Sciences Inc. (NASDAQ: GILD) experienced a rise of 1.6% in short interest during the two-week period to June 30. Some 6.1% of the company’s shares are held short and days to cover is 10. The stock’s price is up 2.7% in the two-week period and more than 18% year-to-date. Shares closed at $88.94, after posting a new 52-week high of $89.25 earlier in the day. The 52-week low is $55.76, and shares are up more than 4% since July 1.

Short interest in BlackBerry Ltd. (NASDAQ: BBRY) fell 3.8% in the final two weeks of June to a total of 93.66 million shares, or 19.2% of BlackBerry’s float. Days to cover is three for this highly volatile stock. Short sellers watched share prices rise nearly 30% in the two-week period, a nice set-up for those who believe the stock cannot maintain the current high prices. Shares closed at $11.42 Thursday, in a 52-week range of $5.44 to $12.18, and are up nearly 50% year-to-date. Since July 1, shares are up about 8.6%.

ALSO READ: Weyerhaeuser Joins the 5 Most Shorted NYSE Stocks

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