NEW YORK (
Bank of America
Bank of New York Mellon
saw a sizeable increase in short interest in the second half of November, according to
Bank of New York saw a 17.97% rise in short interest from Nov. 13 to Nov. 30, the latest period for which data is available, the biggest jump among the 10 largest financial stocks held in the
Financial Select Sector SPDR ETF
. Bank of America was next, with a 13.13% increase, followed by Citigroup, which saw a 10.86% rise.
also saw a rise in short interest during the period, though by just 2.32%.
While those large banks were under attack, investment banking-oriented institutions
got relief from short-sellers over the same period. Goldman short interest dropped by 21.98%, while Morgan Stanley saw a 16.02% drop in short interest.
also saw a drop in outstanding short interest during the period, though not by as much as Morgan Stanley and Goldman.
Contrary to what some might assume, the short-selling numbers do not appear to be merely a reflection of how the big financial companies' shares performed over the period. In fact, shares of Citigroup, Bank of America and Bank of New York outperformed those of Goldman and Morgan Stanley during the two-week period.
Written by Dan Freed in New York