Stock Message Boards
MNV
Market News Video
MNV MNV Model Portfolios ChartZero
MNV
MNV
MNV
MNV
MNV
MNV
MNV
Free Dividend Report - Top Ranked Stocks

Featured MNV Articles:

VOO, CVX, JPM, PFE: ETF Inflow Alert
Tuesday, March 25, 11:39 AM ET, by Market News Video Staff

Symbols mentioned in this story: VOO, CVX, JPM, PFE Exchange traded funds (ETFs) trade just ...

The New #19 Most Shorted Dow Component: Chevron Corporation
Wednesday, March 26, 9:19 AM ET, by Market News Video Staff

The most recent short interest data has been released by the NASDAQ for the 03/14/2014 ...

PFE May 9th Options Begin Trading
Thursday, March 27, 11:24 AM ET, by Market News Video Staff

Investors in Pfizer Inc (PFE) saw new options begin trading today, for the May 9th ...

One Put, One Call Option To Know About for Chevron
Monday, March 31, 12:06 PM ET, by Market News Video Staff

Consistently, one of the more popular stocks people enter into their stock options watchlist at ...

Interesting January 2016 Stock Options for PFE
Monday, March 31, 12:13 PM ET, by Market News Video Staff

Consistently, one of the more popular stocks people enter into their stock options watchlist at ...

  More articles:  1 2 3 4 5 6 7 next »

Chevron Corporation Becomes #12 Most Shorted Dow Stock, Replacing Pfizer Inc

By Market News Video Staff, Monday, August 12, 10:08 AM ET
Play Video: What Short Interest Means


If the video does not load after a few moments, Upgrade to the Latest Flash Player.

The most recent short interest data has been released by the NASDAQ for the 07/31/2013 settlement date, and we here at Dividend Channel like to sift through this fresh data and order the underlying components of the Dow Jones Industrial Average 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.

In our new rank based on the most recent short interest data from NASDAQ, Chevron Corporation (NYSE:CVX) has taken over the position of #12 most shorted Dow component, from Pfizer Inc (NYSE:PFE) which is now in the #21 spot. The "days to cover" at 07/31/2013 was 3.97 for CVX, and 2.27 for PFE; this compares to the average across all Dow components of 3.34. The chart below shows the movement over time of the "days to cover" values of both CVX and PFE, versus the average Dow component.

Below is a chart showing the relative positions of CVX versus PFE over time within the 30 Dow components, with #1 representing the component with the highest "days to cover" value (most heavily shorted) and #30 representing the component with the lowest "days to cover" value (least heavily shorted):

A stock with a high "days to cover" value compared to its peers would be considered to have a higher level of short interest as compared to those peers. This could mean short sellers are using the stock to hedge a long bet elsewhere, or could also mean that short sellers believe the price of the stock will decline. When short sellers eventually cover their positions, by definition there must be buying activity because a share that is currently sold short must be purchased to be covered. So investors tend to keep an eye on that "days to cover" metric, because a high value could predict a sharper price increase should the company put out some unexpectedly good news short sellers might rush to cover positions, and if the "days to cover" number is high, it is more difficult to close those positions without sending the stock higher until the higher price produces enough sellers to generate the necessary volume.

Below is a three month price history chart comparing the stock performance of CVX vs. PFE:

CVX,PFE Relative Performance Chart

According to the ETF Finder at ETF Channel, CVX and PFE collectively make up 12.43% of the iShares High Dividend ETF (HDV) which is relatively unchanged on the day Monday.

See what other ETFs contain both CVX and PFE
See what other stocks are held by HDV


Top Six Most Viewed Stories This Week @ Market News Video:
Thursday 4/17 Insider Buying Report: SHLD, OPKThursday 4/17 Insider Buying Report: SHLD, OPK
Channel: Insider Buying Report
Related symbols: SHLD,OPK
Thursday Sector Laggards: Music & Electronics Stores, General Contractors & BuildersThursday Sector Laggards: Music & Electronics Stores, General Contractors & Builders
Channel: Market Movers
Related symbols: RSH,CONN,HXM,MHO
Nasdaq 100 Movers: GOOGL, SNDKNasdaq 100 Movers: GOOGL, SNDK
Channel: Large Cap Stocks
Related symbols: GOOGL,SNDK
Dow Movers: UNH, GEDow Movers: UNH, GE
Channel: Large Cap Stocks
Related symbols: UNH,GE
Thursday Sector Leaders: Communications Services, Agriculture & Farm ProductsThursday Sector Leaders: Communications Services, Agriculture & Farm Products
Channel: Market Movers
Related symbols: ETAK,CRCM,GRO,CRESY
Tuesday Sector Leaders: General Contractors & Builders, Computer PeripheralsTuesday Sector Leaders: General Contractors & Builders, Computer Peripherals
Channel: Market Movers
Related symbols: MHO,BZH,EXTR,KTCC

This Article's Word Cloud:   Definition   NYSE   afterLeftLabels   average   background   because   both   bottomBuffer   chart   chartBackgroundColor   close   compared   component   components   could   cover   data   days   fillColor   fontFace   fontSize   gridLocation   high   higher   interest   labelSide   leftBuffer   metric   most   movingAverageColors   must   number   over   positions   price   sellers   shares   short   shorted   stock   that   this   those   total   value   versus   volume   volumeColor   width   with
MNV
MNV
About Us - Advertise - Contact Us - Embedding Videos - Licensing Videos - Partners - mRSS / RSS Feed - Terms of Use & Privacy Policy - Video Widget
MNV
Home  |  Analyst News  Dividend Report  Econonomic News  Insider Report  Large Caps  Market Movers  Week Ahead Report  Weekly Market Wrap
MNV
MNV MNV Stock Market Definitions
MNV

Chevron Corporation Becomes #12 Most Shorted Dow Stock, Replacing Pfizer Inc | Market News Video | Copyright © 2008 - 2014, All Rights Reserved

Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners. In no way should any content contained herein be interpreted to represent trading or investment advice. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.