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For a look at what the market thinks about a stock, short sellers are a great resource - when a stock sees high short selling, it indicates that short sellers (and probably the general market) are bearish on its outlook.

We ran a screen on stocks trading within 5% of their 52-week highs, indicating recent upside momentum. We screened these names for those with further bullish support from short sellers, with significant decreases in shares shorted month-over-month.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.‬

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.

Do you think these stocks will outperform like short sellers anticipate? Use this list as a starting point for your own analysis.

List sorted by decrease in shares shorted as a percent of share float.

1. SuccessFactors, Inc. (NYSE:SFSF): Provides cloud-based business execution software solutions that enable organizations to bridge the gap between business strategy and results worldwide. Market cap of $3.35B. The stock is currently trading at 1.55% below its 52-week high. Shares shorted have decreased from 14.94M to 6.18M month-over-month, a change representing 10.51% of the company's 83.38M share float. The stock has had a good month, gaining 51.66%.

2. Ecolab Inc. (NYSE:ECL): Develops and markets products and services for the hospitality, foodservice, healthcare, and industrial markets primarily in the United States. Market cap of $13.48B. The stock is currently trading at 0.62% below its 52-week high. Shares shorted have decreased from 30.58M to 10.94M month-over-month, a change representing 9.33% of the company's 210.51M share float. The stock has gained 18.34% over the last year.

3. ARMOUR Residential REIT, Inc. (NYSE:ARR): Residential Industry. Market cap of $663.31M. The stock is currently trading at 0.28% below its 52-week high. Shares shorted have decreased from 9.69M to 7.24M month-over-month, a change representing 3.01% of the company's 81.27M share float. The stock has gained 9.16% over the last year.

4. Dycom Industries Inc. (NYSE:DY): Provides specialty contracting services in the United States and Canada. Market cap of $703.96M. The stock is currently trading at 4.12% below its 52-week high. Shares shorted have decreased from 2.15M to 1.38M month-over-month, a change representing 2.35% of the company's 32.73M share float. This is a risky stock that is significantly more volatile than the overall market (beta = 2.19). The stock has gained 42.9% over the last year.

5. Asbury Automotive Group, Inc. (NYSE:ABG): Operates as an automotive retailer in the United States. Market cap of $683.06M. The stock is currently trading at 3.11% below its 52-week high. Shares shorted have decreased from 3.72M to 3.28M month-over-month, a change representing 2.20% of the company's 20.04M share float. This is a risky stock that is significantly more volatile than the overall market (beta = 2.71). The stock is a short squeeze candidate, with a short float at 10.59% (equivalent to 8.76 days of average volume). The stock has gained 16.15% over the last year.

6. Bank of the Ozarks, Inc. (NASDAQ:OZRK): Operates as the bank holding company for Bank of the Ozarks that provides a range of retail and commercial banking services. Market cap of $1.03B. The stock is currently trading at 1.20% below its 52-week high. Shares shorted have decreased from 5.43M to 4.87M month-over-month, a change representing 1.99% of the company's 28.20M share float. The stock is a short squeeze candidate, with a short float at 17.1% (equivalent to 17.75 days of average volume). The stock has gained 39.59% over the last year.

7. 99 (NYSE:NDN): Engages in the retail sale of consumable general merchandise with focus on name-brand products. Market cap of $1.55B. The stock is currently trading at 0.32% below its 52-week high. Shares shorted have decreased from 6.03M to 5.29M month-over-month, a change representing 1.69% of the company's 43.68M share float. The stock has gained 37.7% over the last year.

8. 1st Source Corporation (NASDAQ:SRCE): Operates as the holding company for 1st Source Bank that offers commercial and consumer banking services to individuals and businesses in Indiana and Michigan. Market cap of $612.27M. The stock is currently trading at 2.48% below its 52-week high. Shares shorted have decreased from 504.02K to 414.44K month-over-month, a change representing 1.54% of the company's 5.83M share float. The stock has gained 28.12% over the last year.

9. Hormel Foods Corp. (NYSE:HRL): Produces and markets various meat and food products in the United States and Internationally. Market cap of $7.68B. The stock is currently trading at 4.80% below its 52-week high. Shares shorted have decreased from 8.41M to 6.44M month-over-month, a change representing 1.46% of the company's 134.70M share float. The stock has gained 16.84% over the last year.

10. Omnicare Inc. (NYSE:OCR): Provides pharmaceuticals, and related pharmacy and ancillary services to long-term healthcare institutions. Market cap of $3.94B. The stock is currently trading at 4.13% below its 52-week high. Shares shorted have decreased from 12.89M to 11.34M month-over-month, a change representing 1.40% of the company's 110.89M share float. The stock is a short squeeze candidate, with a short float at 10.28% (equivalent to 6.05 days of average volume). The stock has gained 35.99% over the last year.

11. Black Hills Corporation (NYSE:BKH): Operates as a diversified energy company primarily in the United States. Market cap of $1.31B. The stock is currently trading at 1.95% below its 52-week high. Shares shorted have decreased from 3.03M to 2.49M month-over-month, a change representing 1.38% of the company's 39.00M share float. The stock is a short squeeze candidate, with a short float at 6.77% (equivalent to 8.59 days of average volume). The stock has gained 13.38% over the last year.

12. Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX): Engages in developing therapies targeting the molecular mechanisms causing cancer in the United States and internationally. Market cap of $2.73B. The stock is currently trading at 4.82% below its 52-week high. Shares shorted have decreased from 6.56M to 5.80M month-over-month, a change representing 1.28% of the company's 59.35M share float. The stock has gained 15.44% over the last year.

13. Charming Shoppes Inc. (NASDAQ:CHRS): Operates as a specialty apparel retailer primarily for women in the United States. Market cap of $566.34M. The stock is currently trading at 3.94% below its 52-week high. Shares shorted have decreased from 19.95M to 18.77M month-over-month, a change representing 1.25% of the company's 94.57M share float. This is a risky stock that is significantly more volatile than the overall market (beta = 3.46). The stock is a short squeeze candidate, with a short float at 16.28% (equivalent to 7.63 days of average volume). The stock has gained 35.38% over the last year.

14. The Valspar Corporation (NYSE:VAL): Distributes coatings, paints, and related products worldwide. Market cap of $3.71B. The stock is currently trading at 1.10% below its 52-week high. Shares shorted have decreased from 3.51M to 2.45M month-over-month, a change representing 1.23% of the company's 86.45M share float. The stock has had a good month, gaining 12.32%.

15. Foot Locker, Inc. (NYSE:FL): Operates as a retailer of athletic footwear and apparel. Market cap of $3.65B. The stock is currently trading at 1.90% below its 52-week high. Shares shorted have decreased from 10.64M to 8.86M month-over-month, a change representing 1.19% of the company's 149.07M share float. The stock has gained 29.26% over the last year.

16. RSC Holdings, Inc. (NYSE:RRR): Engages in the rental of construction and industrial equipment primarily in the United States and Canada. Market cap of $1.93B. The stock is currently trading at 1.53% below its 52-week high. Shares shorted have decreased from 5.26M to 4.55M month-over-month, a change representing 1.14% of the company's 62.15M share float. This is a risky stock that is significantly more volatile than the overall market (beta = 2.01). The stock has had a good month, gaining 54.18%.

*Short data sourced from Yahoo! Finance, all other data sourced from Finviz.

Source: 16 Stocks Trading Near Highs With Bullish Short Trends