Bank of America Short Interest Jumps

Bank of America stock saw a nearly 20% rise in short-selling activity.
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NEW YORK (

TheStreet

) --

Bank of America

(BAC) - Get Report

saw a big surge in short interest in the second half of September, according to New Short Stock Exchange

data

released late Monday and published by

Reuters

.

Short interest outstanding of Bank of America jumped to 153 million shares from 128 million during the first half of the month. The 19.9% increase was the fourth-largest among NYSE stocks, behind

Chimera Investment Corp.

(CIM) - Get Report

,

Cincinnati Bell

(CBB) - Get Report

and

Nokia Corp.

(NOK) - Get Report

, according to

Reuters

.

Short sellers borrow shares in the hope of buying them at a lower price in the future and pocketing the difference. Short interest reflects the amount of shares being borrowed by short-sellers, and is one way of measuring bearing sentiment on a stock.

Bank of America is also the third largest short position on the NYSE, behind

Citigroup

(C) - Get Report

and

Ford Motor

(F) - Get Report

.

Bank of America, which has been one of the weaker performers among large financial stocks since it released second quarter earnings in July, has grabbed headlines lately due to a decision, announced Friday, to halt foreclosures throughout the U.S. pending a review of its business practices.

--

Written by Dan Freed in New York

.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.