Investing

The 6 Most Shorted NYSE Stocks

Ford

Ford Motor Co. (NYSE: F) jumped up a couple of spots on the list as the number of its shares short in first weeks of the month grew more than 10% to 130.62 million or so, which was 3.3% of the iconic Detroit automaker’s float. At the average daily volume on the latest settlement date, it would take about three days for sellers to cover all their short positions.

Lately, Ford has had trouble with sales in China, the world’s largest car market. The share price ended the most recent settlement period more than 6% lower, and it has sagged further since that time. The stock closed most recently at $8.19 per share, which is about 8% lower than three months ago. The 52-week low of $8.19 was seen last week, and the shares have changed hands as high as $13.48 apiece in the past 52 weeks.

General Electric

General Electric Co. (NYSE: GE) remained in the top six even though the number of its shares short changed little in the settlement period. That followed a jump of more than 23% in the latter half of September. The more than 124.16 million shares reported most recently represented 1.4% of the conglomerate’s total float, and it compares to the year-to-date high above 155 million seen back in March. The daily average trading volume increased sharply again in the latest period, and the days to cover remained less than one.

24/7 Wall St. recently presented an argument for the breakup of General Electric. Short sellers watched the shares rise almost 7% but then end the period down more than 5%. In those two weeks, the Dow pulled back less than 5%. GE’s share price was last seen at $12.17, which compares with a 52-week low of $11.21 last month. The 52-week high, from about a year ago, was $21.65 a share. The stock now is down about 6% in the past 90 days.

Bank of America

Bank of America Corp.’s (NYSE: BAC) short interest in the latest two-week period slipped by about 6% to almost 116.67 million, and the stock fell a couple of spots down the list. That reading represented just 1.2% of the total float. As of the middle of October, it would take about two days to cover all short positions, after the daily average volume rose for the third consecutive period.

Bank of America remains one of Warren Buffett’s big stakes, but is it undervalued? Its share price ended the latest settlement period with a decline of more than 6%, though it had been up more than 3% at one point. The stock closed most recently at $26.19 a share, which is down almost 15% from 90 days ago. The shares have changed hands between $25.81 and $33.05 in the past year.

And the Rest

Rounding out the top 10 were Chesapeake Energy Corp. (NYSE: CHK), Transocean Ltd. (NYSE: RIG), Alibaba Group Holding Ltd. (NYSE: BABA) and Weatherford International PLC (NYSE: WFT). The gainers here were Transocean and Alibaba, but the downswings in the number of Chesapeake and Weatherford shares short were a bit deeper.

Note that Infosys Ltd. (NYSE: INFY) slipped back out of the top 10 most shorted NYSE stocks with a double-digit percentage decline. Lingering along with it outside of the spotlight of the top 10 was Sprint Corp. (NYSE: S).