Short positions in US stock QQQ surged to 82 million shares, reaching the highest level since March 2023.

Breaking: Short interest in the Nasdaq 100 ETF (QQQ) has risen to about 82 million shares, reaching the highest level since March 2023.

In the past few weeks, short interest in QQQ has surged by 18 million shares, an increase of 28%.

Since the start of this year, QQQ short interest has nearly doubled.

Meanwhile, short interest in the S&P 500 ETF (SPY) has shown the opposite trend. Since March this year, SPY short interest has decreased by 30 million shares and is now down to about 92 million shares, nearing its lowest level in at least five years.

For comparison, during the 2022 US stock bear market:

• QQQ short interest peak: about 90 million shares

• SPY short interest peak: about 180 million shares

This means that current QQQ short interest is close to its peak during the 2022 bear market, while SPY short interest is at a historically low level.

The current market shows extremely high short-selling pressure on tech stocks.

US stock market data interpretation: This shift indicates that short positions are clearly concentrating on the Nasdaq 100, with tech stocks facing greater hedging and bearish pressure. However, an increase in short interest does not necessarily mean tech stocks are about to plunge, as it may also include institutional portfolio hedges and arbitrage trades. If upcoming earnings from tech stocks exceed expectations, a large number of short positions could actually fuel a short squeeze rally.

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