Western Digital Corp. Becomes #32 Most Shorted Nasdaq 100 Component, Replacing News Corp
June 27, 2013 at 14:35 PM EDT
The most recent short interest data has been released by the NASDAQ for the 06/14/2013 settlement date, and we here at Dividend Channel like to sift through this fresh data and order the underlying components of the Nasdaq 100 by "days to cover." There are a number of ways to look at short data, for example the total number of shares short; but one metric that we find particularly useful is the "days to cover" metric because it considers both the total shares short and the average daily volume of shares typically traded. The number of shares short is then compared to the average daily volume, in order to calculate the total number of trading days it would take to close out all of the open short positions if every share traded represented a short position being closed.