Short interest in InterOil stock (NYSE- IOC) jumped again in the latest reporting period to a record high of 12,973,540 shares short as of the settlement date February 28, 2013. An additional 653,899 shares were shorted during the final two weeks of February. This is the tenth consecutive reporting period with increased short interest in InterOil stock. Since the end of September, over 4 million additional shares of InterOil have been shorted.
With nearly 13 million shares short, currently over 25% of all InterOil shares are sold short and over 31% of the available float. Even with the massive increase in the short interest, InterOil stock has continued to perform well this year as the stock up 39% YTD.
Intuitional ownership has strengthened during this period as 9 of the top 11 holders of InterOil stock have either increased or maintained their holdings during the 4th Quarter of 2012 according to filings. With nearly $1 Billion worth of InterOil shares short, the stock continuing to outperform the broader indexes, and InterOil Board of Directors meeting the Company's advisors for the purpose of evaluating bids received for the development of the Gulf LNG Project, InterOil appears primed for a short squeeze.