The number of AT&T Inc. (NYSE: T) shares short slipped fractionally in the first two weeks of the month to about 210.90 million. That was the second highest level of short interest in the past year, and it represents 4.1% of the float. At the current average daily volume, it would take more than 13 days to cover all short positions. The new Apple iPhones launched to record demand during the period. But AT&T shares rose only fractionally in the two-week period to September. They closed at $35.40 Wednesday, in the same neighborhood as at the beginning of the year. The 52-week range is $31.74 to $37.48.
The more than 20% jump in short interest in Vale S.A. (NYSE: VALE) during the period brought the number of shares short to 155.42 million. That was the highest number of shares short in the past year. It would take about six days to cover all short positions. Shares ended Wednesday’s trading session at $11.59, in a 52-week range of $11.27 to $17.14. They retreated more than 4% in the two-week short-interest period.
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Advanced Micro Devices Inc. (NYSE: AMD) saw a marginal drop in short interest to more than 129.25 million shares by the middle of the month. That totaled 20.8% of the company’s float, and it was down more than 15% from the peak number of shares short in July. The days to cover rose to more than 11. A new member was appointed to AMD’s board, and the stock’s price retreated more than 6% in those two weeks. It has risen more than 5% since. The stock closed at $3.70 on Wednesday, in a 52-week range of $3.04 to $4.80.
Sprint Corp.’s (NYSE: S) short interest grew from around 110.91 million shares to more than 117.76 million in the first two weeks of the month. That was 15.1% of the float, and by far the largest number of shares short in the past year. The days to cover was about three. The new CEO seems to be taking Sprint in the right direction, and short sellers watched the share price surge more than 23% in the two-week period. Shares closed at $6.64 Wednesday, in a 52-week range of $5.36 to $11.47, and still down more than 36% year-to-date.
After rising for six straight periods, short interest in AbbVie Inc. (NYSE: ABBV) landed at more than 94.19 million shares on September 15. That is about 10 times as many shares short as at the end of January, and it was 6% of the total float. It would take a more than nine days to cover all short positions. AbbVie was one of Credit Suisse’s top pharmaceutical stocks to buy for the rest of 2014. The share price rose less than 5% during the two-week period and has increased a little more since. Shares closed at $59.05 and have traded in a range of $44.02 to $60.02 in the past year.
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Rounding out the top 10 are Bank of America Corp. (NYSE: BAC), Cemex SAB de C.V. (NYSE: CX), J.C. Penney Co. Inc. (NYSE: JCP), Kinder Morgan Inc. (NYSE: KMI) and Exelon Corp. (NYSE: EXC). Kinder Morgan’s short interest rose more than 13% during the period, and Bank of America’s fell more than 16%.
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