Short sellers' bets rose against S&P 500 financial stocks in September

Average short interest across S&P 500 financial (NYSEARCA:XLF) stocks rose at the end of September, after 1-basis-point drop in August.

The short interest rose to 2.04% in September from 2.01% in August, with the number of short interest shares in S&P 500 financials sector rose to 999.22M shares, up from 986.12M in August.

The August short interest has been revised to 2.01% from 1.98% due to inclusion of Robinhood (HOOD) and exclusion of MarketAxess Holdings (MKTX) in S&P 500 Financials index.

The S&P 500 financial index (SP500-40) was up 0.04% in the last month, trailing the 3.53% gain recorded by S&P 500.

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:

Erie Indemnity Company (ERIE) – 8.02% vs. 7.32% last month.

Apollo Global Management (APO) – 7.50% vs 7.41%.

Franklin Resources (BEN) – 7.22% vs 6.37%.

Robinhood Markets (HOOD) – 7.09% vs 3.91%.

Coinbase Global (COIN) – 6.48% vs 5.74%.

Least shorted stocks:

Chubb (CB) – 0.66% vs 0.84%.

Mastercard (MA) – 0.68% vs 0.72% last month.

Berkshire Hathaway (BRK.B) – 0.94% vs 0.98%.

Aon (AON) – 0.99% vs 0.88%.

JPMorgan (JPM) – 0.99% vs 0.97%.

Short Interest as per industry:

Capital Market was the most shorted industry, with a short interest of 2.58%, followed by financial services with a short interest of 2.28%.

Insurance was the least shorted industry at 1.63% against 1.57% in the prior month.

Short sellers’ bets rose against S&P 500 financial stocks in September

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