The balance of shorted shares neared its three-year high of 23.5 billion shares in February, in the midst of a horrible start to 2016. Among the companies in the Russell 3000 index, telecommunications services and consumer discretionary stocks had the largest percentage of their shares sold short; improving crude and commodity prices led to declines in shorts in energy and material stocks after prolonged periods of increases.
Market highs spur short interest declines
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