Investing

The 6 Most Shorted Nasdaq Stocks

Intel

More than 83.31 million Intel Corp. (NASDAQ: INTC) shares were sold short as of the most recent settlement date. That represented 1.8% of the chipmaker’s float and was approximately 4% lower than in the prior period, and it ended four consecutive periods of rising short interest. As of the middle of this month, it would take more than four days for investors to cover all their short positions, after the average daily volume shrank to a year-to-date low.

Intel remains a top pick at Merrill Lynch for its dividend and upside potential. The July 13 closing share price was more than 6% higher than on the previous settlement date, though it pulled back a bit afterward. Intel closed most recently at $52.18 a share, down from the recent multiyear high of $57.60. The 52-week low is $34.38 per share. And the share price was last seen more than 16% higher year to date.

Caesars Entertainment

Caesars Entertainment Corp.’s (NASDAQ: CZR) short interest has increased for 11 straight periods, though the latest gain was less than 400,000 shares. The more than 80.91 million shares on the mid-month settlement date represented 14.0% of the total float, and it was the greatest number of shares short in the past year. Also note that the latest days-to-cover figure jumped to a year-to-date high of more than nine.

The stock was trading near its 52-week low in early July. Yet, its share price ended the most recent two-week short interest period more than 7% higher, and it has continued to climb since then. The stock closed on Tuesday at $11.70 per share, which is down about 6% since the beginning of the year. Its 52-week trading range is $10.25 to $14.50, and, as mentioned, that low was seen early this month.

Opko Health

Opko Health Inc.’s (NASDAQ: OPK) short interest barely rose from in the previous period to more than 73.36 million shares on the most recent settlement date. That was the greatest level of short interest so far this year, and it represented 22.5% of the total float. The daily average trading volume pulled back from a year-to-date high, and the days to cover figure grew to more than 10.

For well more than a year, the CEO frequently has bought batches of Opko shares. The stock retreated more than 8% this past week and closed at $5.58 a share on Tuesday. The 52-week trading range is $2.66 to $7.24. By the end of the two-week short-interest period, the share price was more than 24% higher. But the stock currently is more than 13% lower year over year.

And Others

Rounding out the top 10 were Comcast Corp. (NASDAQ: CMCSA), TherapeuticsMD Inc. (NASDAQ: TXMD), Mattel Inc. (NASDAQ: MAT) and Helios and Matheson Analytics Inc. (NASDAQ: HMNY). While Mattel saw a sizable drop in the number of its shares short, short sellers piled into Comcast and Helios and Matheson, resulting in double-digit percentage gains and lifting the parent of MoviePass into the 10 most shorted Nasdaq stocks.

Lingering outside the spotlight of the top 10 were Geron Corp. (NASDAQ: GERN), Novavax Inc. (NASDAQ: NVAX) and Synergy Pharmaceuticals Inc. (NASDAQ: SGYP). Note that short interest in Apple Inc. (NASDAQ: AAPL) increased markedly, but it remains well outside the top 10 list.