The information technology sector of the S&P 500 experienced an increase in short interest in May compared to April, with an average of 1.56% of shares being sold short. However, despite this rise, the sector has still seen a growth of over 17% so far this year, lagging behind the broader market’s increase of around 14%.
In terms of industry analysis, Electronic Manufacturing Services, which is composed only of Jabil, had the highest short interest within the information technology sector in May. Meanwhile, Semiconductors & Semiconductor Equipment was the second most shorted industry, while Technology Hardware, Storage & Peripherals saw the lowest short interest.
Among the most shorted individual stocks in the information technology sector are Enphase Energy, Western Digital, Super Micro Computer and On Semiconductor. On the other hand, TE Connectivity, Apple and Trimble have the least short positions.
Despite the increase in short interest in the information technology sector, it has performed well so far this year and shown resilience against these bets against it.
