Short sellers boosted their bets against the S&P 500 industrial sector stocks in July, with the S&P 500 Industrial ETF (NYSEARCA:XLI) gaining 3.0% last month.
As of July's end, the average short interest rate in S&P 500 industrials inched lower to 2.23%, down 2 bps from 2.25% at the end of June.
The S&P 500's industrial sector (NYSEARCA:XLI) gained 3.0% in JuLY, compared to the broader S&P 500, which was up 2.17%.
Short interest, which could be an indicator of pessimism, calculates the number of shares sold against the company float. (Short Interest % = Number of Shares Sold Short ÷ Stock Float).
Most shorted stocks:
Southwest Airlines (LUV) - 6.98% vs 7.22% last month.
Generac Holdings (GNRC) - 6.61% vs 7.13%.
C.H. Robinson Worldwide (CHRW) - 5.88% vs 5.40%.
Builders FirstSource (BLDR) - 5.61% vs 5.74%.
Lennox (LII) - 5.59% vs 6.03%.
Least shorted stocks:
General Dynamics (GD) - 0.76% vs 0.81% last month.
Xylem (XYL) - 0.94% vs 0.97%.
Waste Management (WM) - 0.97% vs 0.94%.
AMETEK (AME) - 0.98% vs 1.32%.
RTX Corporation (RTX) - 1.06% vs 1.12%.
Within the industry, Software remained the most shorted industry within the industrial sector, with 4.94% short interest at the end of July, compared to 4.00% last month. Passenger Airlines was the second most shorted industry with a short interest of 4.62% compared to 5.29% at the end of June. Industrial Conglomerates is the least shorted sector with short interest of 1.30% at the end of July.
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