GE Catches The Eye Of Short Sellers

• Short sellers loaded up on this iconic conglomerate in the most recent period.
• The company provided an updated outlook mid-month.
• The share price rose marginally between the most recent settlement dates.

General Electric Company GE has benefited from the "Trump rally", with shares up 8 percent since Election Day. But it also caught the attention of short sellers in the first two weeks of this month.

Between the November 30 and December 15 settlement dates, the iconic conglomerate saw the number of its shares short jump nearly 55 percent to almost 147.82 million. Its short interest had been dwindling since September. The new figure represents 1.7 percent of the total float. At the most recently average daily trading volume, it would take about five days to cover all short positions.

Late in the period, the company provided updated guidance, including updates on further restructuring. CEO Jeff Immelt also expressed rising optimism in the U.S. economy. GE's share price ended the two-week short interest period less than 2 percent higher, though it was up more than 3 percent at one point. The S&P 500 gained almost 3 percent in that time. GE has pulled back a bit since the settlement date. The analysts polled by Thomson/First Call on average recommend buying shares.