The 6 Most Shorted Nasdaq Stocks: Sirius XM Back on Top

A modest increase in short interest between the July 31 and August 14 settlement dates was enough for Sirius XM to reclaim the top spot on the list of the most heavily shorted stocks traded on the Nasdaq. Mannkind was the only other among the top six that saw the number of shares short grow during the period, while short sellers lost interest in AMD in particular.

Note that the six most shorted Nasdaq stocks all had more than 100,000 shares short by the middle of August.

After rising more than 8% in the previous period, the number of Sirius XM Holdings Inc. (NASDAQ: SIRI) shares short swelled again, more than 4%, to around 160.47 million early this month. That was 7.3% of the total float and the highest short interest so far this year. At the current average daily volume, it would take more than five days to cover all short positions. Record subscriber additions recently garnered Sirius an analyst upgrade. The share price ended the two-week period about where it began, but it has retreated about 9% since. Shares ended Tuesday at $3.63, in a 52-week trading range of $3.14 to $4.04.

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After dropping for the third period in a row, the short interest in Frontier Communications Corp. (NASDAQ: FTR) came in at around 156.21 million shares, or 13.6% of the telecom’s float, by mid-August. That was the lowest number of shares short since the end of May. The days to cover is a little more than six. The dividend seemed safe after the most recent earnings, and shares ended the short interest period more than 13% higher, compared to a marginal decline for the Nasdaq. The share price is about 26% lower year to date. The stock closed Tuesday at $4.92, within a 52-week trading range of $4.19 to $8.46.

By the middle of the month, Advanced Micro Devices Inc. (NASDAQ: AMD) had more than 137.19 million shares short, which was down about 13% from the end of July. The most recent reading totaled 21.7% of the company’s float. The days to cover rose above 10 as the average daily volume continued to cool from recent highs. The share price ended the two weeks more than 4% lower than where it began, though at one point it was up about 14%. The stock closed at $1.66 on Tuesday, and the 52-week range is $1.61 to $4.25.