Short Interest Rose in Bank Stocks: June 2007 (JPM, BAC, USB, NCC, STT, C, WFC, BK, STI)

Banking, finance, and taxes

Published: June 22, 2007 8:15 am

Stock Tickers: JPM, BAC, USB, NCC, STT, C, WFC, BK, STI

The large banking stocks saw a fairly large increase in short interest from May to June in 2007. That is after a mixed April to May period. With what happened in rates during the last month that would have probably been expected. Here is the June 2007 short interest:

STOCK (Ticker)                   JUN07 MAY07 Change
JPMorgan Chase (JPM)    31.94M 28.24M +12%
US Bancorp (USB)             35.4M    25.23M    +40%
National City (NCC)             33.7M 26.66M    +26%
State Street (STT)                13.8M    12.44M    +10.9%
Bank of America (BAC)       35.2M    28.72M    +22%
Citigroup (C)                      31.26M 32.4M    +6%
Wells Fargo (WFC)             51.8M    35.97M    +44%
Bank of New York (BK)       7.01M    5.04M    +39%

lower short interest…..
SunTrust Banks (STI) 7.42M 7.94M -6.5%

Jon C. Ogg
June 22, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.

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