Market Short Interest Shifts
August Short Interest Drops Across Calamos While ISHG Rises Sharply
Anonymous
Key Points
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MetLife Investment Management bought 440,000 CHW shares on Aug. 26, boosting their direct stake to 157,600 shares valued at roughly $3.94 million.
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CalciMedica director Fred A. Middleton purchased 49,794 CALC shares on June 25 at an average price of $4.00, increasing his ownership by 30.57% to 212,654 shares (about $850,616).
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Calamos S&P 500 Structured Alt Protection ETF – February (CPSF) launched on Feb. 3, 2025, and employs FLEX options to track SPY with a 100% downside hedge over a one-year horizon.
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iShares Global Materials ETF (MXI) saw notable activity with Ameritas Advisory Services LLC increasing its MXI stake by 1,782.1% in the fourth quarter, and Climber Capital SA, Palladiem LLC, and Solstein Capital LLC opening new positions.
August brought mixed signals for short-selling activity across major ETFs and funds. Calamos Global Dynamic Income Fund (CHW) saw short interest plummet 41.9% as of August 14, while CalciMedica (CALC) dropped 35.7%, according to Watchlist News. But some funds moved the opposite direction: iShares 1-3 Year International Treasury Bond ETF (ISHG) jumped 65.2%, and the iShares Global Materials ETF (MXI) surged 49.8%, signaling investors are hedging different corners of their portfolios.
Major Drops in Calamos and CalciMedica
Calamos Global Dynamic Income Fund (CHW) led the declines with a 41.9% drop in short interest by mid-August. MetLife Investment Management added fuel to the fire on August 26, buying 440,000 CHW shares and boosting their stake to 157,600 shares valued at roughly $3.94 million, per Watchlist News. The aggressive buying from such a large institution suggests confidence in the fund's direction.
CalciMedica (CALC) posted a 35.7% decline in short interest over the same period. The stock got a boost from insider buying: director Fred A. Middleton purchased 49,794 shares on June 25 at $4.00 per share, raising his stake by 30.57% to 212,654 shares worth about $850,616, according to Watchlist News. Insider purchases like this often signal management believes the stock is undervalued.
Treasury and Materials ETFs Turn Higher
While some funds cooled off, the iShares 1-3 Year International Treasury Bond ETF (ISHG) charged higher with a 65.2% jump in short interest. The iShares Global Materials ETF (MXI) also climbed sharply, up 49.8% as of August 14, per Watchlist News. These increases reflect investors taking bearish bets on international bonds and commodity-linked equities as economic conditions shift.
MXI saw especially notable institutional repositioning. Ameritas Advisory Services LLC exploded its MXI position by 1,782.1% in the fourth quarter. Climber Capital SA, Palladiem LLC, and Solstein Capital LLC all opened fresh positions during the period, showing new money betting on materials, according to Watchlist News.
Structured Alt Protection ETF Gains Traction
The Calamos S&P 500 Structured Alt Protection ETF – February (CPSF) posted a 47.8% rise in short interest, even as the brand-new fund settled in. CPSF launched on February 3, 2025, and uses FLEX options to track the S&P 500 while guaranteeing 100% downside protection over a one-year window, per Watchlist News. Early short interest suggests traders are positioning defensively or testing the fund's hedging mechanics.
Emerging Markets and Utilities See Opposite Trends
Not all August moves pointed upward. The Avantis Emerging Markets Equity ETF (AVEM) saw short interest fall 36.0% to 1,319,362 shares as of August 14, according to Watchlist News. The First Trust Multi-Asset Diversified Income Index Fund (MDIV) also retreated, posting a 37.8% decline to 15,531 shares. These declines suggest shorts are covering bets on both emerging markets and income-focused strategies.
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