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The 6 Most Shorted Nasdaq Stocks: Short Sellers Grow More Cautious

Between the September 15 and September 30 settlement dates, short interest in many of the most heavily shorted stocks traded on the Nasdaq dwindled somewhat. The exceptions were MannKind, which had about the same number of shares short at the beginning and end of the period, and Advanced Micro Devices, which saw a very modest bump in short interest.

Note that the five most shorted Nasdaq stocks all had more than 110,000 shares short by the end of the month.

After rising about 2% or so in the previous period, the short interest in Frontier Communications Corp. (NASDAQ: FTR) took back that gain to come in at 168.75 million shares, or 14.5% of the telecom’s float, by the end of September. The days to cover rose to eight as the average daily volume dwindled. Frontier was a Jefferies value pick mid-month, but shares ended the short interest period nearly 11% lower, compared to a more than 5% decline for the Nasdaq. The share price now is down more than 23% year to date. The stock closed Friday at $5.18, within a 52-week trading range of $4.19 to $8.46.

Reclaiming much of a 2% gain in the previous period, the number of Sirius XM Holdings Inc. (NASDAQ: SIRI) shares short shrank to around 153.03 million late in the month. That was 7.0% of the total float. At the current average daily volume, it would take a little more than six days to cover all short...