Below is a list of the 29 stocks in the S&P 500 that have more than 10% of their share float sold short. Luxury retailer Nordstrom (JWN) currently tops the list with 22% of its float sold short. The stock is down 33.86% YTD and 55% from levels seen last November.
Tax-prep company H&R Block (HRB) is the second most heavily shorted stock with 20.55% of its float sold short. HRB is followed by sports retailer Under Armour (UAA), Snap-On (SNA), and Kohl’s (KSS). While JWN and KSS are both down big YTD, HRB, UAA, and SNA are all up nicely on the year.
There are plenty of other notables on the list, including Macy’s (M), Campbell Soup (CPB), TripAdvisor (TRIP), Gap (GPS), Western Union (WU), and Foot Locker (FL), but one common characteristic among many of them is that they are retailers.
On average, these stocks with 10%+ short interest as a percentage of float are up 8.5% on the year, which is well below the 17% gain that the S&P 500 has seen.
Below we have input the list of heavily shorted stocks into a custom portfolio that Bespoke members can create when they’re logged into our website. We’ve sorted the list by our algo-driven “Trend” and “Timing” scores. There are currently four stocks on the list that are in Bespoke “uptrends” with “good” timing scores — Under Armour (UAA), Intl Flavors & Fragrances (IFF), Campbell Soup (CPB), and Coty (COTY).
If you’re a Bespoke Premium or Bespoke Institutional member already, you can import this list of heavily shorted stocks into a custom portfolio by clicking here. We use these tools as starting points when we’re trying to find new long or short ideas, and our members can too! Start a two-week free trial to Bespoke Premium to build your own custom portfolios today.