Paccar Short Base Grows

The short base (measured by the percent of shares outstanding on loan) in Paccar (PCAR) one of the world's largest designers and manufacturers of big rig trucks has risen over 17.01% in the last month to 7.26%.

PCAR’s profit fell 17 % to $1 billion in 2008, while its stock price ended the year down 47 % at $28.60. The company also closed 2008 with 3,100 fewer employees than at the end of 2007. While there has been a recovery in the share price in 2009 (up over 7% YTD), the utilization (which measures the supply and demand in the securities lending market) has also risen from 30.86% to 39.40% YTD.

The utilization in Caterpillar Inc. (CAT) which operates in three principal areas: Machinery, Engines and Financial Products, has also increased from 18.60% to 35.86% YTD. The share price in CAT has fallen over 26% YTD.

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