Short interest figues for the end of February were released earlier this week, and the table below lists the 46 stocks in the S&P 1500 that had more than 25% of their free floating shares sold short as of the end of February. For each stock, we have also included its performance so far in March. While the rally off the February lows was driven by a lot of short-covering, it is interesting to note that the number of stocks that have more than 25% of their free-floating shares sold short actually increased from 45 to 46. In spite of that, the most heavily shorted stocks continue to trounce the market. As shown at the bottom of the table, on an equally-weighted basis the most heavily shorted are up an average of 15.67% (median: 5.59%) compared to a gain of 3.01% for the S&P 1500.
Of the 46 names listed, just 12 are down so far in March and only three of those are down more than 5%. Conversely, 34 of the stocks listed are up MTD. The top performer is Rex Energy (REXX), which is up an astounding 108%. Behind REXX, five other stocks are up over 50%! Not surprisingly, the biggest winners on the list have been from the Energy sector. Of the 12 top performers, only one (US Steel) is not in the Energy sector.