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What’s the Short Interest in National Oilwell Varco on July 7?

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Short interest in National Oilwell Varco

As of July 7, 2017, National Oilwell Varco’s (NOV) short interest as a percentage of its float was 6.9%, compared to 6.8% as of March 31, 2017. Since the end of 1Q17, NOV’s short interest has risen 2.0% as of July 7. Since that same date, NOV stock has fallen ~20.0%. As you can see in the graph below, NOV stock and short interest as a percentage of float have been inversely related since June 2015.

Short interest as a percentage of float in NOV fell from 13.2% in April 2016 to 6.9% currently. During that period, NOV stock fell 47.0%.

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Short interest in NOV’s peers

Short interest in Schlumberger (SLB) as a percentage of its float was 1.2% as of July 7, 2017. Its short interest has risen 2.0% since March 31, 2017, while its stock has fallen 16.0%. Short interest in Halliburton (HAL) as a percentage of its float was 1.9% as of July 7, 2017. Since March 31, 2017, its short interest has fallen 5.0%, while HAL stock has fallen 15.0%.

National Oilwell Varco versus industry ETF

NOV makes up 5.5% of the iShares US Oil Equipment & Services (IEZ). Since March 31, 2017, IEZ has fallen 23.0%. NOV also accounts for 0.05% of the iShares Russell 3000 (IWV).

Next, we’ll look at NOV’s correlation to the price of crude oil.

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