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Short Interest: Its Influence as a Stabilizer of Stock Returns

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  • Hurtado-Sanchez, Luis

Abstract

Short interest is the number of shares of a stock borrowed for sale (and not yet replaced) by investors who anticipate a decline in the stock's price. After its price falls, the stock is purchased to replace the borrowed shares, the selling price being higher than the purchase price whence the profit. The New York and American Stock Exchanges disclose the current outstanding short interest for the market as a whole and for selected stocks around the 15th of each month.

Suggested Citation

  • Hurtado-Sanchez, Luis, 1978. "Short Interest: Its Influence as a Stabilizer of Stock Returns," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 13(5), pages 965-985, December.
    • Handle: RePEc:cup:jfinqa:v:13:y:1978:i:05:p:965-985_01
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    Cited by:

    1. Bohl, Martin T. & Klein, Arne C. & Siklos, Pierre L., 2013. "Are short sellers positive feedback traders? Evidence from the global financial crisis," Journal of Financial Stability, Elsevier, vol. 9(3), pages 337-346.
    2. Ma, Chenghu & Hu, Jianqiang & Xu, Yifan, 2018. "Margins on short sales and equilibrium price indeterminacy," Journal of Mathematical Economics, Elsevier, vol. 74(C), pages 79-92.
    3. José Renato Haas Ornelas & Pablo José Campos de Carvalho, 2015. "The Cost of Shorting, Asymmetric Performance Reaction and the Price Response to Economic Shocks," Working Papers Series 383, Central Bank of Brazil, Research Department.

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