United Parcel Service (UPS) is down over 3% despite its 20% increase in quarterly profits. This is Â 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.
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Managing Director Predictive Analytics, S3 Partners, LLC
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