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Astec Analytics, a division of SunGard Data Systems, provides investors with short selling market color using data from the securities lending market.
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SunGard Data Systems
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  • Most expensive stocks to borrow and short right now
    Below is a list sorted by the current cost-to-borrow (and hence cost-to-short), and how much that cost-to-borrow has changed over the prior week.


    NameTickerChange in cost-to-borrow (bps)
    DEARBORN BANCORP INC        DEAR-112
    CENTRAL PAC FINL CORP       CPF 18
    CHINA SHEN ZHOU MNG & RES INSHZ 2,792
    CHINA BIOLOGIC PRODS INC    CBPO3,712
    EVERGREEN SOLAR INC         ESLR1,318
    YRC WORLDWIDE INC           YRCW1,086
    CHINA AGRITECH INC          CAGC279
    SOMAXON PHARMACEUTICALS INC SOMX1,483
    CHINA MEDIAEXPRESS HLDGS INCCCME168
    MACATAWA BK CORP            MCBC428
    APRICUS BIOSCIENCES INC     APRI4,984
    CASCADE FINL CORP           CASB-2,683
    LIFE PARTNERS HOLDINGS INC  LPHI2,409
    CHINA-BIOTICS INC           CHBT1,158
    CHINA GREEN AGRICULTURE INC CGA 2,161
    NYMOX PHARMACEUTICAL CORP   NYMX2,573
    CHINA PRECISION STEEL INC   CPSL1,896
    PACIFIC ETHANOL INC         PEIX715
    YONGYE INTL INC             YONG3,863
    PAB BANKSHARES INC          PABK-1,376
    HOKU CORP                   HOKU1,284
    FEIHE INTL INC              ADY 2,177
    ROYALE ENERGY INC           ROYL1,064
    ANCHOR BANCORP WIS INC      ABCW13
    NEOPROBE CORP               NEOP-4,692
    RADIENT PHARMACEUTICALS CORPRPC 23
    GREEN BANKSHARES INC        GRNB-37
    SULPHCO INC                 SUF 2,983
    TELESTONE TECHNOLOGIES CORP TSTC-43
    RESVERLOGIX CORP            RVX.TSX251
    QUANTUM FUEL SYS TECH WORLDWQTWW-544
    BSD MED CORP DEL            BSDM46
    CASCADE BANCORP             CACB-200
    CONNS INC                   CONN-1,176
    LUCAS ENERGY INC            LEI 896
    OLD SECOND BANCORP INC ILL  OSBC223
    IBIO INC                    IBIO804
    ZENN MOTOR CO INC           ZNN.TSXV535
    PRINCETON NATL BANCORP INC  PNBC-6
    AVANIR PHARMACEUTICALS INC  AVNR1,180
    BRITTON & KOONTZ CAP CORP   BKBK37
    ASCENT SOLAR TECHNOLOGIES INASTI270
    INTEGRA BK CORP             IBNK-99
    DARA BIOSCIENCES INC        DARA18
    ZANETT INC                  ZANE706
    FIRST FED BANCSHARES ARK    FFBH-22
    CELSION CORPORATION         CLSN300
    NOKIA CORP                  NOK 2,365
    NEW CONCEPT ENERGY INC      GBR 209
    GREAT NORTHN IRON ORE PPTYS GNI -655
    May 09 2:21 PM | Link | Comment!
  • Stocks that are generating the most revenue for institutional lenders - may be a better list than most expensive stocks to short

    After posting lists of the most expensive stocks to borrow and short, I thought that it would be valuable to post a list sorted by the revenue that each stock is generating in the securities lending market.  To calculate revenue, I've simply multiplied the market value on loan for each stock by the average fee that brokers (and hence hedge funds) must pay to borrow (and short). 

    Many blue-chip stocks have very high loan balances because institutions use them as collateral to borrow cash.  This is why the securities lending market is also known as the equity finance market.  

    Many other small-cap stocks have very high average fees, yet because there's not much supply out there, there's no opportunity for most investors to short.

    I hope that this list shows the most popular short plays, in that the average fees are relatively high, and the balances that brokers are borrowing are high as well.

    The top stock on this new list is AIG.  With almost $1 billion worth of AIG stock on loan in the securities lending market, and an average fee in the double-digit percentage points, the daily revenue from lending AIG is substantial.  Is there necessarily a reason to short AIG just because it's on this list?  No.  But I hope that people can use this list to get some new ideas.

    NameTickerChange in cost-to-borrow (bps)
    AMERICAN INTL GROUP INC     AIG 396
    SEARS HLDGS CORP            SHLD63
    SANOFI AVENTIS              SNY 402
    NOKIA CORP                  NOK 1,056
    ST JOE CO                   JOE -1,815
    FIRST SOLAR INC             FSLR22
    CHINA MEDIAEXPRESS HLDGS INCCCME189
    RUBICON TECHNOLOGY INC      RBCN-667
    AIXTRON SE                  AIXG-94
    AVANIR PHARMACEUTICALS INC  AVNR941
    CHINA-BIOTICS INC           CHBT1,054
    BOLIDEN AB                  BLS.TSX353
    ISHARES TR                  IWM 3
    MANNKIND CORP               MNKD-41
    MAGNUM HUNTER RES CORP DEL  MHR 615
    FEDERATED INVS INC PA       FII 86
    STAR SCIENTIFIC INC         CIGX-109
    CONNS INC                   CONN-924
    BRIDGEPOINT ED INC          BPI 492
    DIGITAL RLTY TR INC         DLR -120
    LIFE PARTNERS HOLDINGS INC  LPHI2,642
    ALPHA NATURAL RESOURCES INC ANR 0
    YONGYE INTL INC             YONG3,684
    CHINA SHEN ZHOU MNG & RES INSHZ 3,399
    CHINA AGRITECH INC          CAGC421
    NEOPROBE CORP               NEOP-2,006
    YRC WORLDWIDE INC           YRCW916
    CHINA GREEN AGRICULTURE INC CGA 2,371
    VEECO INSTRS INC DEL        VECO-1
    SOMAXON PHARMACEUTICALS INC SOMX1,375
    CLEAN ENERGY FUELS CORP     CLNE530
    BARNES & NOBLE INC          BKS 181
    APRICUS BIOSCIENCES INC     APRI4,677
    BANK MONTREAL QUE           BMO 96
    DELCATH SYS INC             DCTH597
    AUTONATION INC              AN  -12
    EVERGREEN SOLAR INC         ESLR1,117
    ATP OIL & GAS CORP          ATPG-21
    EDUCATION MGMT CORP NEW     EDMC9
    TANZANIAN ROYALTY EXPL CORP TRE -420
    SUNPOWER CORP               SPWR.A91
    URANIUM ENERGY CORP         UEC -23
    RITCHIE BROS AUCTIONEERS    RBA -35
    FEIHE INTL INC              ADY 836
    NYMOX PHARMACEUTICAL CORP   NYMX3,313
    ROCK-TENN CO                RKT 37
    ZAGG INCORPORATED           ZAGG277
    ROYALE ENERGY INC           ROYL1,164
    BSD MED CORP DEL            BSDM43

    May 09 1:23 PM | Link | 2 Comments
  • Charts of stocks with a big increase in cost-to-short
    Below are charts of a few interesting stocks that recently showed large increases in the cost to borrow, which directly influences the cost to short.

    APRICUS BIOSCIENCES INC    

     

    YONGYE INTL INC

     

    DUOYUAN GLOBAL WTR INC     

     

    USA TECHNOLOGIES INC     

    MAGNUM HUNTER RES CORP DEL 

    Tags: APRI, YONG, DGWIY, USAT, MHR
    May 06 11:55 AM | Link | Comment!
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