Qualcomm's Short Interest Drops 14.46%, Down to 2.07% of Float

Qualcomm's short percent of float has fallen 14.46% since its last report, with 20.02 million shares sold short, representing 2.07% of all regular shares available for trading. Based on trading volume, it would take traders 2.61 days to cover their short positions on average. This decrease in short interest may signal a bullish market sentiment towards Qualcomm.

Qualcomm Inc. (NASDAQ: QCOM) has seen a significant decrease in its short interest, with the short percent of float falling by 14.46% since its last report. Currently, 20.02 million shares are sold short, representing 2.07% of all regular shares available for trading [1]. Based on its trading volume, it would take traders an average of 2.61 days to cover their short positions [1].

Short interest, which is the number of shares sold short but not yet covered or closed out, is a crucial indicator of market sentiment. An increase in short interest typically signals bearish sentiment, while a decrease can indicate that investors are becoming more bullish [1]. The recent decline in Qualcomm's short interest suggests that market participants may be shifting their views on the stock, potentially indicating a more positive outlook.

Qualcomm's short interest is also lower than the average of its peers. According to Benzinga Pro, the average short interest as a percentage of float for Qualcomm's peer group is 5.39% [1]. This suggests that Qualcomm is less targeted by short sellers compared to other companies in its industry.

While the decrease in short interest is a positive sign, it is essential to consider other factors that may influence Qualcomm's stock price. The company recently reported strong growth in its automotive and industrial IoT segments, with management emphasizing its on-track performance to reach a $4 billion automotive revenue target ahead of schedule [2]. Additionally, three key technical indicators have turned bullish, suggesting that momentum may be shifting back to buyers [3].

However, it is crucial to remain vigilant and monitor the stock's performance closely. A strong move through the $165 resistance level, ideally accompanied by elevated volume and a solid close above it, would confirm that the uptrend is alive and the next leg higher has begun [3]. Investors should also keep an eye on the semiconductor sector's volatility-driven opportunities, as high-volume trading strategies have delivered significant returns in recent years [4].

References:
[1] https://www.benzinga.com/insights/short-sellers/25/08/47397229/is-qualcomm-gaining-or-losing-market-support
[2] https://finance.yahoo.com/news/qualcomm-qcom-impressive-roadmap-boosted-042700084.html
[3] https://www.investing.com/analysis/qualcomm-3-technical-indicators-are-suddenly-flashing-green-200666082
[4] https://www.ainvest.com/news/qualcomm-shares-rally-ai-momentum-1-22b-volume-ranks-65th-market-activity-2508/