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Short interest figures for the end of December were released after the close yesterday. Earlier today, we sent out our bi-monthly update on short interest figures, which showed widespread declines across all sectors and market caps. In fact, of the 1,500 stocks in the S&P 1500, only 352 saw an increase in short interest during the last two weeks of December. That being said, there are still a number of stocks with a high level of short interest.

The table below lists the 39 stocks in the S&P 1500 where short interest as a percentage of float is more than 25%. Not surprisingly, three small-cap stocks (Spectrum Pharmaceuticals (NASDAQ:SPPI), American Greetings (NYSE:AM-OLD) and Questcor (NASDAQ:QCOR)) top the list. Small-cap stocks typically have higher levels of short interest as they tend to be less established and therefore often times tend to have shakier finances.

While small-cap stocks dominate the list, there are a number of well known mid-cap and large-cap stocks on the list as well. Deckers Outdoor (NYSE:DECK), for example, currently has nearly half of its float sold short, while J.C. Penney (NYSE:JCP) is not far behind at 46.11%. Other notable names on the current list include First Solar (NASDAQ:FSLR), Green Mountain Coffee (NASDAQ:GMCR) and Netflix (NASDAQ:NFLX).

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Source: S&P 1500 Most Heavily Shorted Stocks