Chesapeake Energy, Petrobras and Vale short traded in the settlement period 27 February to 13 March, with an increase in double digit percentage. Pfizer and Verizon, otherwise saw significant decline in their short interest.
The two-week period ended with the five top stocks at above 110,000 shares.
The first two weeks of the month saw 317.99 million of AT&T Inc.’s (NYSE: T) shares going short, i.e., 6.1% of the float. This requires 13 days to cover all short positions with the present average volume of trade. Its shares increased 5% on the announcement of getting dropped from the AT&T was to be dropped from the Dow Jones Industrial Average. Short interest was on increase from last September. The 52-week trading range is $32.07 to $37.48 and the closing figure on Tuesday is $33.07.
Vale S.A. (NYSE: VALE), saw an increase of 226.7 million in short shares i.e., 11.8% increase, maximum for the year. This is a requirement of 6 days to cover.
Even though downgraded by Merrill Lynch, in March, shares gained 8% after falling around 21% in between. The 52-week trading range is $5.63 to $15.59 and the closing figure on Tuesday is $6.29.
About 156.56 million short shares of Pfizer Inc.’s (NYSE: PFE) amounting to 9.2% fellin the in two weeks and six days to cover.A float of 2.5%, and a fall of almost 17%. Credit Suisse had given a thumbs up with the share pull back about 1% and retreated from then. The 52-week trading range is $27.51 to $35.45 and the closing figure on Tuesday is $34.52.
Contrary to above the short shares of Transocean Ltd.’s (NYSE: RIG) was flat with above 115.67 shares representing 33.1% of the total float. And it requires 11 days for covering. That was the second highest level of short interest in a year.Oil prices being low has put pressure on the share price, resulting in a 15% drop in the two weeks. However, it has regained more than 10% now.The 52-week trading range is $13.28 to $46.12 and the closing figure on Tuesday is $14.83.
More than 110.73 million shares, a jump of 57.4%, past year’s largest short shares, were from Chesapeake Energy Corp. (NYSE: CHK). It amounted to only four days of coverage and 16.9% of the company’s float. Many new 52 week lows were witnessed by the share in the settlement period of two weeks. It was more than 17% but again it has recovered by greater than 3% after that. The 52-week trading range is $13.38 to $29.92 and the closing figure on Tuesday is $14.26.
When summarized, PetróleoBrasileiro S.A. (NYSE: PBR), Verizon Communications Inc. (NYSE: VZ), J.C. Penney Co. Inc. (NYSE: JCP), General Electric Co. (NYSE: GE) and Bank of America Corp. (NYSE: BAC) form part of the top ten shares with the exception of Verizon, which witnessed a fall in short interest. Petrobras had the biggest short interest at marginally more than 10%.
