Earlier today we published our bi-weekly Short Interest Report for subscribers. One of the tables in the report highlights the most heavily shorted stocks in the S&P 500, which we’ve reproduced below.
As shown, Under Armour (UAA) is currently the most shorted stock in the S&P with 24.4% of its equity float sold short. First Solar (FSLR) ranks just behind Under Armour with 24.18% of its float sold short. Retailer Nordstrom (JWN) is the third most heavily shorted stock in the S&P 500, while Frontier Communications (FTR) and Garmin (GRMN) round out the top five. There are a significant amount of investors that have placed negative bets on these five large-cap companies.
Other notables on the list of most shorted stocks in the S&P 500 include Chipotle (CMG), Urban Outfitters (URBN), TripAdvisor (TRIP), Best Buy (BBY), Gap (GPS), and Kohl’s (KSS).
On average, the stocks listed in the table are down 5.5% year-to-date. That’s much weaker than the 5%+ gain that the S&P 500 has seen, and it shows that at least some short sellers are having a good year even in a rising market.
To see Bespoke’s full line of macro and micro research, sign up for one of our premium membership options today! You won’t be disappointed.