• Fri. Apr 19th, 2024

Microsoft was the S&P 500’s least shorted information technology stock in February on the NYSEARCA:XLK.

BySamantha Johnson

Mar 14, 2024
Microsoft was the S&P 500’s least shorted information technology stock in February on the NYSEARCA:XLK.

The information technology sector, which is a significant component of the S&P 500, experienced a slight increase in short bets in February compared to January. The average short interest across S&P 500 information technology stocks was 1.35% in February. The performance of the S&P 500’s information technology sector (NYSEARCA:XLK) has been positive so far this year, with a 9.2% increase, outperforming the broader S&P 500’s gain of 8.5%.

Among information technology stocks, Enphase Energy (NASDAQ:ENPH) had the highest short interest, with 6.96% of shares float sold short as of February 29. Other highly shorted stocks included First Solar (NASDAQ:FSLR), Western Digital (NASDAQ:WDC), and Akamai Technologies (NASDAQ:AKAM). On the other end of the spectrum, Microsoft (NASDAQ:MSFT) was the least shorted stock, with only 0.66% of shares float sold short, followed by Apple (NASDAQ:AAPL) and Motorola Solutions (NYSE:MSI) with short interest of 0.72% and 0.74% respectively.

When looking at industry analysis, IT Services was the most shorted industry within the information technology sector, with a short interest of 2.08% as of February. Semiconductors & Semiconductor Equipment followed closely behind with a short interest of 1.88%. Both industries saw an increase in short interest from January.

Overall, the information technology sector has seen fluctuations in short bets, with some stocks experiencing higher levels of short interest than others. The sector’s performance continues to be of interest to investors as they navigate market trends and opportunities.

By Samantha Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

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