The short interest data for the July 15 settlement date is out and we have compared the defensive dividend stocks, aside of utilities, to what has happened since the June 30 settlement date. The interesting point about the defensive high-yield dividends is that something is happening that is unequal in trends. The changes look a bit all over the place, implying that the short sellers are looking at individual issues rather than attacking sectors. The changes were mild in some and massive in others.
4/7 Wall St. would remind readers that short selling a high-dividend stock takes much more conviction and courage than short selling growth stocks. On top of being short a stock and having to pay borrowing costs, those short sellers are effectively assuming the liability of paying that dividend out on top of just the cost to borrow a stock: Altria Group Inc. (NYSE: MO), AT&T Inc. (NYSE: T), General Electric Co. (NYSE: GE), Kimberly-Clark Corp. (NYSE: KMB), Merck & Co. Inc. (NYSE: MRK), Pfizer Inc. (NYSE: PFE), Procter & Gamble Co. (NYSE: PG) and Verizon Communications Inc. (NYSE: VZ).
Source: 24/7 Wall Street
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