Despite a couple of sizable changes in the number of shares sold short between the March 31 and April 15 settlement dates, the top five most heavily shorted stocks traded on the Nasdaq maintained their positions. Sirius XM had the largest gain here, keeping it at the top of the list. Despite a double-digit percentage drop, though, Intel held on to the second spot.
Note that the five most shorted Nasdaq stocks all had more than 95,000 shares short at the end of the period.
The number of Sirius XM Holdings Inc. (NASDAQ: SIRI) shares short increased by around 11.1 million to almost 141.50 million early in the month. That was 5.9% of the total float, as well as the end of a four-period streak of shrinking short interest. At the current average daily volume, it would still take more than six days to cover all short positions. Sirius announced new service in Nissan vehicles next year during the period. Short sellers watched the share price rise 7.7% during the two weeks between settlement dates. Shares closed Friday at $3.97, in a 52-week trading range of $2.98 to $4.04.
A 10.3% drop in short interest brought Intel Corp. (NASDAQ: INTC) to more than 115.23 million shares short. That totaled 2.4% of the company’s float and was the lowest number of shares short in at least a year. The days to cover dropped to less than three for the first time this year. Analysts were pleased with Intel’s recent earnings report, and shares gained 4.3% in the short interest period, while the Nasdaq was up 1.3%. The stock is now down 11.6% year-to-date and closed most recently at $32.08. Shares have traded between $25.74 and $37.90 in the past year.