Sirius XM Radio can make news in many ways. Today it was in the form of short interest in the stock. Between March 15th and March 31st, the short interest in Sirius XM Radio increased by 33% from about 82 million shares short to nearly 110 million.
While the news is dated and now roughly 8 trading days old, it is still relative for investors to comprehend. It should be noted that a short position in an equity is normal, and Sirius XM has been in this range of shorted shares for quite some time. All to often, some investors begin to try to guess the market. They try to figure out whether the shorts are still in play or not. More often than not, the trading on this equity is business as usual.
Sirius XM Radio is actively traded by both people going long as well as people going short. The stock is "traded" frequently by those trying to play a few pennies in either direction. One reason for this type of action is that there is still uncertainty in the company in BOTH directions. Some feel that the company is on the path to prosperity, while others focus on items such as the reverse split potential and NASDAQ compliance.
The bottom line is that no matter what your position in this equity, there will be cycles that occur as each trading day passes.
Position - Long Sirius XM