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First Internet Bancorp sees rise in short interest


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First Internet Bancorp sees rise in short interest

Several U.S. bank and thrift stocks saw more than270-basis-point increases in short interest between June 15 and June 30.

The 10 companies with the most short interestincreases — led by Fishers, Ind.-based First Internet Bancorp, up 365 basis points — were allincluded in FTSE Russell's finallist of additions to the Russell 3000 index, announced June 24.First Internet Bancorp closed at $23.82 June 30 and had risen to $24.94 bymarket close July 20.

On the other hand, seven banks saw more than100-basis-point decreases in short interest in late June. experienced the biggestdecline in short interest, dropping 182 basis points to 3.69% at June 30 from5.51% at June 15.

The High Point, N.C.-based company, which its acquisition ofSouthcoast FinancialCorp. on June 17, was among the financial services companiesremoved from the Russell Microcap index. BNC Bancorp's stock closed at $22.71 June30 and had climbed to $23.09 at the close of trading July 20.

BofIHolding Inc. remains the most shorted stock, with 36.75% of sharessold short at June 30, up from 36.38% at June 15. Shares of the SanDiego-based company closed at $17.71 June 30 and had slid to $16.62 at theclose of trading July 20.

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