Investing

The 6 Most Shorted Nasdaq Stocks

Intel

More than 98.40 million Intel Corp. (NASDAQ: INTC) shares were sold short as of the most recent settlement date. Short interest increased more than 8% during the period to total 2.1% of the company’s float. Note that it was the fifth period in a row with more than 90 million shares short. As of mid-month, it would take more than four days to cover all short positions.

Big spending on the cloud is seen as benefiting Intel. Though the stock ended the short interest period more than 1% lower, that was after being up more than 2% at one point. The most recent close at $36.22 a share compares to a 52-week trading range of $30.13 and $38.45 and is about 21% lower than at the beginning of the year.

Opko Health

Opko Health Inc.’s (NASDAQ: OPK) short interest of more than 74.04 million shares on the most recent settlement date was fractionally lower than in the previous period. That is around the same number shares of short in each period since early in the year, and it was 22.2% of the total float. The daily average volume rose from a year-to-date low, and the days to cover retreated from a year-to-date high of about 23 to around 14.

For well more than a year, the CEO frequently has bought batches of Opko shares. The stock closed most recently at $6.44 a share, in a 52-week trading range of $6.37 to $12.15. The share price ended the two-week short-interest period down more than 12%, and it has retreated further since then. The stock is now more than 30% lower since the beginning of the year.

Yahoo

Short interest at Yahoo! Inc. (NASDAQ: YHOO) totaled more than 63.70 million shares on May 15, which was up more than 7% from the prior settlement date. That was the highest level of short interest in at least a year, and it was also 7.2% of the total float. The days to cover grew from around seven to more than eight during the period.

This internet portal pioneer is in the process of being acquired by Verizon. Short sellers watched its stock rise more than 3% during those two weeks and a little more afterward. The most recent closing share price was $50.32, which is down around 30% year to date. In the past year, the shares have traded between $35.05 and $51.23 apiece.

And Others

Rounding out the top 10 were Comcast Corp. (NASDAQ: CMCSA), Novavax Inc. (NASDAQ: NVAX), Synergy Pharmaceuticals Inc. (NASDAQ: SGYP) and Apple Inc. (NASDAQ: AAPL). Synergy saw a more than 20% drop in its short interest between the latest settlement dates. The leading gainer among these four was Apple, with about a 10% rise in the number of shares short.

Lingering just outside the spotlight of the top 10 most shorted Nasdaq stocks were Oclaro Inc. (NASDAQ: OCLR), Micron Technology Inc. (NASDAQ: MU) and BlackBerry Ltd. (NASDAQ: BBRY).

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