Short Sellings Move Back Into Financials, Target Industrials, Tech, And Media

Investing

Published: February 26, 2009 4:17 am

Last Updated: March 10, 2020 6:27 pm

Short sellers think financial stocks believe that financial stocks still have further to fall. Based on data as of February 15, short sellers kept a big bet on Citigroup (C). Share short in AIG (AIG) rose 17% to 151 million The short interest in Well Fargo (WFC) was up 11% to 124 million, and shares sold short in Bank of America (BAC) rose 15% to 111 million. Shares sold short in Goldman Sachs (GS) were up 26% to 16 million

Short sellers also made a run at the stocks in large industrial companies. Shares short in GM (GM) rose 9% to 114 million. The short interest in Dow Chemical (DOW) was up 28% to 39 million. Shares short in Corning (GLW) rose rose 33% to 26 million.

Media companies were hit hard by short sellers. The short interest in CBS (CBS) was up 20% to 47 million shares. Shares short in Gannett (GCI) rose 12% to 71 million. The short interest in in McClatchy (MNI) was 29% of the total float and share short in Lee (LEE) were 24% of its float. Twenty-five percent of the float in Cox (CXR) was sold short. At Media General (MEG) the number was 24%. Shares sold short in Yahoo! (YHOO) were up 8% to 43 million and shares sold short in Comcast (CMCSA) were up 5% to 54 million.

In the tech sector, shares short in Intel (INTC) were up 12% to 107 million. Shares sold short in Microsoft (MSFT) were up 14% to 92 million. Shares short in Cisco (CSCO) also rose.

Douglas A. McIntyre

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