Short sellers placed large bets against the stock of tech companies for the period ending on January 15, taking a series of positions to gamble that firms like Microsoft (MSFT) and Cisco (CSCO) would be the next sector hit hard by selling.
Shares short in Microsoft rose 18% to 92.4 million. Share sold short in Cisco were up 17% to 61.3 million. The short interest in Dell (DELL) rose 15% to 60.1 million. Shares sold short in Nvidia (NVDA) were up 67% to 43 million.
Shares short in Adobe (ADBE) rose 63% to 12.4 million. The short position in Oracle (ORCL) was up 10% to 49.6 million. Share sold short in Qualcomm (QCOM) rose 12% to 41.8 million, and shares short in competitor Broadcom (BRCM) were up 22% to 23.3 million.
Among tech companies traded on the NYSE, shares short in Nokia (NOK) rose 74% to 38.3 million. The Short interest in Hewlett-Packard (HPQ) rose 29% to 37.2 million. Shares sold short in Texas Instrument (TXN) were up 22% to 39.6 million. The short interest in EMC (EMC) was up 15% to 63.4 million.
Short interest in most big banks was relatively stable. Shares short in Citigroup (C) moved up only 9% to 167.8 million. Shares short in Wells Fargo (WFC) were down 12% to 125.9 million. The short interest in JPMorgan (JPM) was off 3% to 66 million. Shares short in Bank of America (BAC) fell 16% to 96.1 million.
There was no major change in the short interest in the two big car companies. Shares short in GM (GM) were down 10% to 97.3 million. The short interest in Ford (F) rose less than 1% to 270.5 million.
Short sellers increased bets on major retailers. Shares short in Macy’s (M) were up 15% to 36.4 million. Shares short in Nordstrom (JWN) were up 26% to 27.4 million. Shares sold short in Home Depot (HD) rose by 10% to 65.1 million. The short position in Limited Brands (LTD) rose 32% to 16.3 million. Shares sold short in Walgreen (WAG) were up 16% to 27.1 million.
Douglas A. McIntyre
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