Short Interest through June 15th was up again for both Sirius and XM Satellite Radio. In May, the short side of the equation had dipped to the lowest point in quite some time. June saw increases of about 10% in short interest, but the interest did not approach previous levels.
Short Interest – 26,692,319 up 9% from May
Short Interest – 101,086,876 up 10% from May
Investors should remember that a lot of the short activity is tied to converts. It makes business sense for the holder of convertibles to short the stock, thereby virtually guaranteeing a return.
Position - Long Sirius, Long XM -IMOJB-