The 6 Most Heavily Shorted NYSE Stocks in June

Note that the top five most shorted NYSE stocks all had more than 99,000 shares short at the end of the most recent two-week settlement period.

The number of AT&T Inc. (NYSE: T) shares short shrank about 2.4% in the first weeks of the month, but not enough to budge it from the top of the list. The around 310.97 million shares short represented 6.0% of the float. Note that this is the lowest short interest since February. It would take about 10 days to cover all short positions. Jefferies saw AT&T as a value stock during the period, and shares rose more than 2% but then gave up that gain in early June. The stock closed Wednesday at $35.78, which was up more than 6% from the beginning of the year. The 52-week trading range is $32.07 to $37.48.

There was a 6.8% drop in the number of Vale S.A. (NYSE: VALE) shares short, the third period in a row of falling short interest. The mid-month reading of more than 195.19 million shares was the lowest level since early in the year. At the current average daily volume, it would take around seven days to cover all short positions. Vale’s CEO predicted rising demand in China, and its shares ended the two-week short-interest period more than 2% higher. The S&P 500 fell almost 1.5% in that time. Vale shares closed most recently at $6.40, in a 52-week range of $5.45 to $14.93.

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After dwindling in the previous two periods, short interest in Chesapeake Energy Corp. (NYSE: CHK) jumped 17.0% to more than 162.13 million shares in the first weeks of June. That was 24.7% of the company’s float, but the days to cover declined to about six. Oppenheimer, formerly a bull, downgraded the stock in June, and the share price dropped about 14% between the settlement dates, as well as around another 6% since. The stock closed at $11.55 on Wednesday, a multiyear low. The 52-week high of $29.92 was reached almost a year ago.

Petróleo Brasileiro S.A. (NYSE: PBR), better known as Petrobras, saw the number of its shares short retreat 4.5% in the two weeks to more than 130.38 million, taking back some of a gain of about 12% in the previous period. The days to cover was near six. Petrobras issued 100-year bonds between the settlement dates, and shares rose more than 9%. The stock ended Wednesday at $9.47, up almost 30% year to date. In the past year, shares have traded between $4.90 and $20.94.

Sprint Corp.’s (NYSE: S) short interest grew from more than 85.24 million shares to about 99.69 million in the first two weeks of the month. It was 12.5% of the float, as well as the largest number of shares short so far this year. The days to cover was about eight. Sprint seems to be getting left out of the telecom mergers. Short sellers watched the share price both rise and decline more than 2% but end the two-week period flat. Shares closed at $4.62 Wednesday, in a 52-week range of $3.79 to $8.68, and up more than 11% year to date.

Short interest in Transocean Ltd. (NYSE: RIG) inched up from almost 96.54 million shares to more than 97.48 million in the period. That followed marginal rise in the previous period. Note that the number of shares short in the middle of June represents 26.9% of the total float. The days to cover increased to about 11. Barclays expressed low expectations for the stock, and shares ended the two weeks more than 6% lower. It pulled back about 5% more since, closing at $16.63 on Wednesday. Shares have traded between $13.28 and $45.22 in the past 52 weeks.

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Rounding out the top 10 were J.C. Penney Co. Inc. (NYSE: JCP), Bank of America Corp. (NYSE: BAC), Ford Motor Co. (NYSE: F) and General Electric Co. (NYSE: GE). The big mover among these was Bank of America, with the number of shares short rising more than 15% during the two weeks. J.C. Penney was the only one of these that saw shrinking short interest in this period.