Latest Data Reflects An Increase In Short Interest In Citigroup

According to the latest data released by the New York Stock Exchange (NYSE), short sellers, who sell un-owned shares believing that they can buy them at a lower price later and keep the difference, have raised their bets against Citigroup

in the first half of June. Recent statistics show that this strategy is paying off. Over the period spanning June 1 to June 15, when short selling increased, C’s shares rose 0.76%. Since then, shares of Citigroup have slipped 5.26%, much more than the decline seen in the shares of competitors JPMorgan Chase

, Bank of America

and Wells Fargo

. The shorting activity in these companies has also risen since June 15. A fall in the shares of Citigroup and big banks can be correlated with the overall weakness in the economic data released recently. The probability of tough regulations to be applied on banks has also played a part in pulling these shares down.