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The 6 Most Shorted NYSE Stocks: GE Comes Out on Top

While short sellers shied away from many of the most heavily shorted stocks traded on the New York Stock Exchange between the June 15 and June 30 settlement dates, GE bucked that trend. In fact, a surge in the number of GE shares sold short during those two weeks lifted the stock to the top of the list.

On the other hand, leading the downward trend was miner Freeport McMoRan, which saw a double-digit decline in its short interest. However, that wasn’t enough for it to slip out of the top 10 most shorted NYSE stocks.

Note that all of the top six stocks had more than 110 million shares short at the end of the most recent settlement period.

GE

The short interest in General Electric Co. (NYSE: GE) jumped about 69% to the highest level year to date, or about 188.56 million shares during the latter two weeks of the month. That was 2.1% of the iconic conglomerate’s float, and it still would take more than four days to cover all short positions.

GE is among the companies buying back the most stock this year, and the share price ended the short interest period up more than 3%. It is now up less than 4% year to date and closed Tuesday at $32.26. Shares have traded between $19.37 and $32.50 in the past year.

Vale

The number of Vale S.A. (NYSE: VALE) shares short retreated by more than 11.63 million during the period, or more than 6%, to nearly 168.90 million. That was on top of an almost 7% decline in the previous period. At the most recent average daily volume, it would take about seven days to cover all short positions.

The Brazilian miner aims...


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