United Parcel Service (UPS) is down over 3% despite its 20% increase in quarterly profits. This is primarily due to the fear that the China trade war will negatively affect international revenues. Short interest is at $925 million, with 8.10 million shares shorted. This makes the package delivery and supply chain management company the 3rd largest short in the Air Freight Sector sitting behind FedEX & C.H. Robinson. Although, shorts had been covering over the last two weeks, we saw new shorting yesterday ahead of the earnings release.
Short Interest in the U.S. Air Freight & Logistics Sector has been declining recently. Short interest dropped $449 million over the last month (down 11%) and down $302 million in the last week alone (down 7%). Total short interest in the U.S. sector is now $4.5 billion.
Want deeper insight into the above analysis?
Contact: Ihor.Dusaniwsky@S3Partners.net
Managing Director Predictive Analytics, S3 Partners, LLC
For more information on S3’s reporting, data and analytics solutions, email us at sales@s3partners.net. Start your free trial of the BLACK App – the only source of real-time short interest on the Bloomberg Terminal or Thomson Reuters Eikon.
For short side data and access to our research reports go to https://shortsight.com/ .
