Chesapeake Energy Corp. (NYSE: CHK) saw its short interest drop less than 3% to around 224.80 million shares by the end of January. That was the third consecutive period of decline, and it was 34.4% of the company’s float. The days to cover remained about eight as the daily average volume pulled back.
The short interest in Freeport-McMoRan Inc. (NYSE: FCX) surged another 25% between the most recent settlement dates to more than 222.71 million shares. That followed a 15% gain in the previous period, and it was 19.6% of the miner’s float. It would take about three days to cover all short positions, as the average daily volume rose to a 52-week high.
Sprint Corp.’s (NYSE: S) short interest declined about 5% in the final weeks of the month, ending five consecutive periods with an expanding number of shares short. The most recent reading of around 212.78 million was 34.2% of the float. The days to cover dropped from more than 13 to about six as the daily average volume increased.
The number of Vale S.A. (NYSE: VALE) shares short dropped by some 19.66 million in the two weeks to almost 198.12 million. At the most recent average daily volume, it would take about seven days to cover all short positions, down from nine mid-month.
Petróleo Brasileiro S.A. (NYSE: PBR), better known as Petrobras, saw the number of its shares short shrink by 2.7% in the two weeks to almost 191.18 million. That was still the second highest level of short interest in the past year. The days to cover fell to about six as the average daily volume increased again.
A nearly 14% rise brought Alcoa Inc.’s (NYSE: AA) number of shares short to more than 187.78 million at the end of the two-week period. That was the fifth straight period of rising short interest, up to some 14.7% of Alcoa’s total float. The days to cover increased from three to about five.