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When highly shorted stocks start to make a comeback, they often see short covering - or a closing of short positions that adds to the upward momentum.

We ran a screen on stocks on winning streaks, as measured by the ratio of consecutive days in which the stock outperformed the S&P 500 over the last month over the number of days of its longest losing streak relative to the S&P 500.

We then screened these names to find those with significant short covering, 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 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 continue winning? Use this list as a starting point for your own analysis.

1. ascena retail group inc. (NASDAQ:ASNA): Operates as a specialty retailer of apparel for women and tween girls in the United States and Puerto Rico. The stock's longest winning streak over the last month was 7 days, while the longest losing streak was 1 day, or a win streak/lose streak ratio of 7.0. Shares shorted have decreased from 6.22M to 5.08M over the last month, a decrease which represents about 1.87% of the company's float of 61.01M shares.

2. CompuCredit Holdings Corp. (CCRT): Provides credit and related financial services and products to underserved consumer credit market, a market represented by credit risks that regulators classify as "sub-prime", in the United States. The stock's longest winning streak over the last month was 7 days, while the longest losing streak was 3 days, or a win streak/lose streak ratio of 2.33. Shares shorted have decreased from 2.21M to 2.14M over the last month, a decrease which represents about 1.41% of the company's float of 4.97M shares.

3. Dillard's Inc. (NYSE:DDS): Operates as an apparel and home furnishing retailer in the United States. The stock's longest winning streak over the last month was 8 days, while the longest losing streak was 1 day, or a win streak/lose streak ratio of 8.0. Shares shorted have decreased from 8.36M to 7.15M over the last month, a decrease which represents about 4.06% of the company's float of 29.78M shares.

4. Liz Claiborne Inc. (LIZ): Engages in the design and marketing of a range of apparel and accessories. The stock's longest winning streak over the last month was 7 days, while the longest losing streak was 2 days, or a win streak/lose streak ratio of 3.50. Shares shorted have decreased from 23.07M to 21.82M over the last month, a decrease which represents about 1.34% of the company's float of 93.36M shares.

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

Source: 4 Winning Stocks Seeing Significant Short Covering