British Airways and Delta Seeing Short Covering

British Airways (BAY), which released a Traffic Report Friday, has seen a wide amount of short covering-- down from 4% of the company on loan in early February to 1.7% now. This is in line with a slight rebound in price, from 120p ($12) to 140p ($19.8) in the same time frame. Prior to this, the price dropped from 180p ($25) to 110p ($15) between December and late January, as investors increased positions from 3% to 4%. [(BAIRY.PK) is trading at $19.80 as of Friday]

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In the US Small Caps, Delta Air Lines (DAL) have also seen some short covering, down from 4.8% of the company on loan to 3.5% between March 2 and 20, and back up to just under 4% now. The price has halved from $12 to $6 between late December and now.

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