What Was the Short Interest in National Oilwell Varco on June 9?



Investors’ short interest in National Oilwell Varco

National Oilwell Varco’s (NOV) short interest as a percentage of its float was 6.1% as of June 9, 2017, compared to 6.8% as of March 31, 2017. Since the end of 1Q17, NOV’s short interest has fallen 11%. As noted in the graph below, NOV’s stock price and short interest as a percentage of float have been inversely related since June 2015. Since March 31, 2017, NOV’s stock price has fallen ~15% despite the decrease in investors’ short interest in NOV.

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National Oilwell Varco versus industry ETF

NOV constitutes 5.7% of the iShares US Oil Equipment & Services ETF (IEZ). NOV also accounts for 0.05% of the iShares Russell 3000 ETF (IWV). IWV tracks the Russell 3000 Index (RUA-INDEX). The RUA-INDEX rose 17% in the past one year versus a 2% fall in NOV’s stock price.


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