The five most heavily shorted stocks traded on the Nasdaq all saw increases in short interest between the April 30 and May 15 settlement dates. That was most apparent in AMD and MannKind, with the latter shooting up to the number three spot on the list.
Note that the five most shorted Nasdaq stocks all had more than 110,000 shares short at the end of the month.
The number of Sirius XM Holdings Inc. (NASDAQ: SIRI) shares short increased by more than 6 million to about 155.73 million early in the month. That was 6.8% of the total float, as well as the highest level of short interest so far this year. At the current average daily volume, it would still take about nine days to cover all short positions. Sirius was one of our cheap stocks with big upside during the period. Short sellers watched the share price pull back about 3% during the two weeks between settlement dates, and a bit more since. Shares closed Wednesday at $3.89, in a 52-week trading range of $3.14 to $4.04.
Advanced Micro Devices Inc. (NASDAQ: AMD) had more than 119.55 million shares short by the middle of the month, up 10.2% from the previous settlement date. The most recent reading totaled 18.9% of the company’s float, and the days to cover jumped to more than 10 from less than five in the previous period. AMD had trouble finding some love after its analyst day. The share price ended the two weeks about 1% higher than where it began, though it has fallen more than 5% since. The stock closed at $2.28 on Wednesday, and the 52-week range is $2.14 to $4.80.