- 4-Week # shares sold: 20,000
- 12-Week # shares sold: 27,200
- 24-Week # shares sold: 38,288
The North American count was bolstered by a significant uptick in Canadian rigs week-over-week, and U.S. oil producers have added more than 30 rigs so far in August.
Analysts cite squeeze on short sellers as reason for oil's recent 20% gain and tip further falls.
Hedge fund managers continue to flee stocks in the second quarter, but the smart money eyed several potential opportunities, including Charter Communications and Morgan Stanley.
Activity in the U.S. was up by 10 rigs as commodity prices approached the $50 per barrel mark, although the Canadian count slipped by 5 rigs.