According to Hazeltree’s report, Tesla remains a popular choice for short-sellers, along with Chevron, listed as the most shorted large-cap securities in March. The report for March 2024 confirms this trend.
Hazeltree, a company specializing in active treasury and intelligent operations technology, released its report, with Tesla and Chevron ranking as the most-shorted securities in the large-cap category. Both companies held a Hazeltree Crowdedness Score of 99, indicating a high percentage of funds shorting these securities.
The Crowdedness Score reflects the level of shorting activity within Hazeltree’s community, with 99 representing the highest percentage of funds shorting a security. In addition to March, Tesla also held the highest Hazeltree Crowdedness Score in January and February of the same year, with a score of 99.
However, its Institutional Supply Utilization fluctuated. In February, it increased to 3.72 percent, while in March, it dropped to 2.18 percent.
The Institutional Supply Utilization, as defined by Hazeltree, represents the percentage of institutional investors’ supply of a particular security that is being lent out. This rate serves as an indicator of the supply-demand dynamic, illustrating how “hot” a security is in terms of its availability for short positions.
The Hazeltree report for March identified Tesla and Chevron as the two most shorted large-cap securities, with Tesla securing the highest Crowdedness Score. The top 5 in Hazeltree’s March report also included Exxon Mobil Corp (86), Live Nation Entertainment Inc (75), and Capital One Finance Corp (75).