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Investing

NYSE Short Invest Shows Split Bets On Financial Shares (BAC)(C)(ABK)(WB)(WM)(CFC)(F)(S)(T)(CC)

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By Douglas A. McIntyre Published
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Not all financial shares are created equal, at least no according to short bets made on NYSE companies for the period ending. April 30 compared to numbers on April 15.

Short interest in Washington Mutual (WM) dropped 11 million shares to 184.3 million. Short interest in Citicorrp (C) fell 10.4 million to 109.4 million. Short interest in Countrywide (CFC) fell 22.5 million to 76.4 million. In the case of these companies, each has either raised money or is being bought out.

Short interest in several financial firms took a big jump. Wachovia (WB) was up 14.8 million to 117.4 million. Short interest in National City (NCC) rose 40.4 million to 100.3 million. Short interest in Fannie Mae (FNM) rose 12.8 million shares to 85.4 million.Share short in Wells Fargo (WFC) rose 12.3 million to 122.5 million. Shares sold short in Ambac (ABK) moved up 16.8 million to 48.1 million.

Other large increases in shares sold short  included Ford (F) where short interest rose 11.3 million to 293.1 million. Sprint (S) increased 16.6 million to 92.3 million.

Short interest in some large companies dropeed sharply. Shares short in in AT&T (T) fell 15.3 million to 38 milion and shares sold short iin Citicut City (CC) fell 8.5 million to 27.4 million.

Data from NYSE

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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