Investing

The 5 Most Shorted Dow Stocks

Microsoft

> Shares short: more than 39.89 million
> Change from prior period: −7.5%
> Percentage of float: 0.5

Microsoft remained at the third spot on the list in the first two weeks of July despite the pullback in the number of shares short. It is the lowest reading since the 52-week low of around 37 million shares short that occurred back in February. It would take these investors more than a day to cover their short bets, as of mid-month.

Microsoft is expected to get a boost from the upcoming launch of its next-generation Xbox console. The shares ended the two weeks trading more than 2% higher, though they had been up over 6% earlier in the period. The Nasdaq saw a gain of less than 4% during the short interest period.

Microsoft stock was last seen trading at $201.30 a share, after hitting a multiyear high of $216.38 earlier this month. The 52-week low of $130.78 was seen last summer. The latest share price is almost 27% higher than the low during the pandemic sell-off, while the Nasdaq gained nearly 33% in that time.

And the Rest

Rounding out the top five most shorted Dow stocks on the most recent settlement date were Visa Inc. (NYSE: V) and Apple Inc. (NASDAQ: AAPL). Both the financial services provider and the iPhone maker saw the numbers of their shares short increase marginally early this month. Goldman Sachs initiated coverage of the former with a Buy rating during the period, while the latter was seen as a Joe Biden stock pick.

On the following list of short interest changes in the Dow stocks as of July 15, note that Coca-Cola Co. (NYSE: KO) and JPMorgan Chase & Co. (NYSE: JPM) bucked the overall trend of short seller caution. The beverage giant was seen as an undervalued defensive pick, while the latter is also expected to benefit from a Democrat in the White House.

Dow Stock Short (millions) Change % Float
Exxon 52.70 −0.70% 1.25%
Pfizer 47.47 −7.79% 0.86%
Microsoft 39.89 −7.51% 0.53%
Visa 36.69 3.23% 2.18%
Apple 35.23 3.74% 0.81%
Cisco 34.83 −10.66% 0.03%
Intel 33.25 −1.05% 0.79%
Verizon 30.98 −7.83% 0.75%
Coca-Cola 26.97 11.34% 0.63%
Disney 26.04 1.56% 1.45%
IBM 23.24 −4.11% 2.62%
JPMorgan 22.03 9.93% 0.73%
Walgreens 17.52 −3.97% 2.43%
Dow 15.88 −3.92% 2.15%
Procter & Gamble 15.79 6.15% 0.64%
Merck 14.64 −1.60% 0.58%
Raytheon Technologies 13.34 −2.13% 1.54%
Johnson & Johnson 12.51 −2.12% 0.40%
Walmart 12.25 −6.12% 0.88%
Chevron 11.95 −4.40% 0.64%
Boeing 11.04 −8.77% 1.98%
Nike 10.68 −6.81% 0.89%
American Express 9.50 −6.75% 1.18%
Caterpillar 6.89 −5.12% 1.28%
Home Depot 6.68 −9.64% 0.62%
3M 6.50 0.53% 1.13%
McDonald’s 5.84 −2.67% 0.79%
Travelers 5.09 −4.09% 2.02%
UnitedHealth 5.04 −9.30% 0.54%
Goldman Sachs 4.08 −3.81% 1.24%