S&P 1500 Most Heavily Shorted Stocks

Includes: CVC, GME, X
by: Bespoke Investment Group

Short interest figures for the middle of June were released after the close yesterday, and below we have provided a list of the 33 stocks in the S&P 1500 that currently have more than 25% of their free-floating shares sold short. Of the 33 stocks listed, 23 are from the S&P 600 Small Cap Index, seven are mid caps (S&P 400), and just three [GameStop (NYSE:GME), US Steel (NYSE:X), and Cablevision (NYSE:CVC)] are large caps (S&P 500). Of the three large caps that made the list, Cablevision is new to the list. On a sector by sector basis, the only two sectors not represented are Consumer Staples and Utilities. Sectors with the greatest representation are Consumer Discretionary (10) and Technology (7).

In the 3+ months leading up to June, the primary trend has been one where the most heavily shorted stocks in the S&P 1500 were underperforming the overall market. So far this month, though, we have seen the opposite. As shown in the chart below, the average return of the 33 stocks listed is a gain of 2.21% compared to a gain of 1.68% for the overall S&P 1500.