Burned by Last Week's Rally, Short Sellers Still Hang On: Chart

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Equity bears aren’t giving in yet to the rally that lifted the Standard & Poor’s 500 Index to its biggest weekly gain of 2016. At the end of last week, the proportion of shares borrowed to sell remained near a four-year high, or an average 3.5 percent of the total outstanding among the gauge’s members, data compiled by Markit Ltd. and Bloomberg show. That’s even after shares with the highest short interest led last week’s bounce, with a Goldman Sachs Group Inc. basket of most-hated stocks jumping 5.2 percent.