Omnicom most shorted S&P 500 communications stocks in September; Alphabet least shorted

Bets against communication services stocks rose in September compared to the end of August, with Omnicom Group (OMC [https://seekingalpha.com/symbol/OMC]) being the most shorted stock in the sector and Google-parent Alphabet (GOOG [https://seekingalpha.com/symbol/GOOG]) taking the spot for the least shorted.

Average short interest across S&P 500 communications services stocks was 1.84% of shares float at the end of September, up from 1.75% in August.

The S&P 500’s communications services sector (NYSEARCA:XLC [https://seekingalpha.com/symbol/XLC]) is up over 17% so far this year, compared to the 11% rise in the broader market.

STOCKS WITH THE LARGEST AND LEAST SHORT POSITIONS

_Ranked by short interest as a percentage of shares float_

Meta Platforms Class A (META [https://seekingalpha.com/symbol/META]), Alphabet Class A (GOOGL [https://seekingalpha.com/symbol/GOOGL]) and Netflix (NFLX [https://seekingalpha.com/symbol/NFLX]), the three largest contributors to the index, had short interest of 1.10%, 1.03%, and 1.52%, respectively.

Omnicom Group (OMC [https://seekingalpha.com/symbol/OMC]) had 30.13 million shares short as on Sept-end, or 15.74% of shares float.

Charter Communications (CHTR [https://seekingalpha.com/symbol/CHTR]) was the second most shorted stock at 15.61% of shares float, followed by Live Nation Entertainment (LYV [https://seekingalpha.com/symbol/LYV]) and TKO Group (TKO [https://seekingalpha.com/symbol/TKO]), with short interest of 12.29% and 11.91%, respectively.

Alphabet (GOOG [https://seekingalpha.com/symbol/GOOG]) was the least shorted stock, having 35.28 million shares sold.

INDUSTRY ANALYSIS

_Average short interest as a percentage of floating shares_

__

Media stocks was the most shorted industry within the sector, with 3.58% short interest as of end-September, down from 3.15% during end-August.

Entertainment stocks took the second spot with 3.11% short interest as of September, compared to 2.92% at August-end.

Interactive Media and Services, which has stocks like Alphabet and Meta Platforms, was the least shorted industry in the sector, with 0.93% short interest as of September.

MORE ON COMMUNICATION SERVICES SELECT SECTOR SPDR FUND

* U.S. Stocks Sector Divergence Raises Red Flags [https://seekingalpha.com/article/4828924-us-stocks-sector-divergence-raises-red-flags]
* IXP Vs. XLC: Three Hidden Investments To Add To A Communications Services Sector ETF [https://seekingalpha.com/article/4818028-ixp-vs-xlc-three-hidden-investments-to-add-to-a-communications-services-sector-etf]
* XLC: The Communication Services ETF That's Heavily Weighted Toward Big Tech [https://seekingalpha.com/article/4802732-xlc-communication-services-etf-thats-heavily-weighted-toward-big-tech]
* Communication services weekly roundup: Netflix leads, AppLovin lags [https://seekingalpha.com/news/4503453-communication-services-weekly-roundup-netflix-leads-applovin-lags]
* BofA Securities: Clients continue selling US equities for four straight weeks [https://seekingalpha.com/news/4502707-bofa-securities-clients-continue-selling-us-equities-for-four-straight-weeks]