Investing

The 5 Most Shorted Dow Stocks

Microsoft

> Shares short: around 37.79 million
> Change from prior period: 3.7%
> Percentage of float: 0.5

The maker of Windows, Office and the Xbox clung to in the third spot on the most shorted Dow components list, though it is something of a distant third place, and short interest was at a 52-week low last month. At the average daily volume on the latest settlement date, it would take investors more than a day to cover their short interest.

Microsoft ultimately was not the winner in the race for TikTok during the period. Short sellers watched the share price climb more than 3% but then head south and end the period more than 7% lower. It pulled back a bit more afterward. Note that the Dow ended the latter half of last month down less than 2%.

After climbing more than 1% in the past week, Microsoft stock closed trading on Thursday at $203.19 a share. That was in a 52-week range of $232.86 (seen early this month) to $132.52 (in March). The most recent share price is more than 49% higher since the year-to-date low in March, compared to a gain of more than 55% for the Nasdaq in that time.

And the Rest

Rounding out the top five most shorted Dow stocks on the most recent settlement date were Cisco Systems Inc. (NASDAQ: CSCO) and Verizon Communications Inc. (NYSE: VZ). The share price of the former, considered a safer, dividend-paying tech stock pick, pulled back almost 4% in those two weeks. The latter, seen as a safe harbor stock, had a gain of more than 2% in that time. Yet, the short interest of both shrank somewhat during the period.

On the following list of short interest changes in the Dow stocks as of September 15, note that, like Apple, Chevron, Coca-Cola and 3M saw sizable increases in their short interest. The newest components of the Dow Jones industrial average, Amgen, Honeywell and Salesforce, also had rising short interest in their first two weeks in the index.

Dow Stock Short (millions) Change % Float
Intel 138.01 −20.47% 3.25%
Apple 90.22 13.22% 0.52%
Microsoft 37.79 3.66% 0.51%
Cisco 30.01 −4.42% 0.71%
Verizon 29.86 −0.67% 0.72%
Visa 27.72 −2.23% 1.65%
Coca-Cola 23.53 19.88% 0.55%
IBM 22.13 −2.20% 2.49%
Chevron 20.83 10.46% 1.12%
JPMorgan 20.41 −8.42% 0.68%
Disney 19.98 −11.00% 1.11%
Walgreens 18.99 −0.27% 2.64%
Walmart 18.55 8.59% 1.31%
Dow 15.28 4.75% 2.06%
Salesforce 14.22 14.22% n/a
Procter & Gamble 14.03 −2.82% 0.56%
Nike 11.03 6.55% 0.92%
Merck 10.97 −9.43% 0.43%
American Express 10.57 −4.63% 1.31%
Johnson & Johnson 10.29 −2.54% 0.39%
Boeing 10.00 9.03% 1.78%
3M 7.71 15.50% 1.34%
Caterpillar 7.34 4.97% 1.36%
Amgen 6.77 9.04% 1.16%
Honeywell 6.13 8.28% 0.88%
Home Depot 5.54 −28.20% 0.68%
McDonald’s 5.49 −20.30% 0.74%
UnitedHealth 5.19 −6.87% 0.55%
Travelers 4.52 −10.87% 1.79%
Goldman Sachs 4.01 −16.85% 1.21%


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