The lending market for GXPT — the Global X PureCap MSCI Information Technology ETF — has shifted sharply in the past week. Short interest has surged nearly 295% week-on-week, and availability has collapsed to levels that are drawing attention across the lending desk.
Availability stood at just 26% as of May 15. That means roughly one share remains available to borrow for every four already lent out — well inside the "very tight" threshold. A week ago, availability was above 160%. The drop is steep and fast.
Cost to borrow has moved with it. CTB hit 2.62% on May 15, up 94% week-on-week. That said, it is worth keeping in context: CTB was trading above 17% as recently as late April. The current reading is elevated versus recent weeks but well below the April peak.
Short interest as a % of free float sits at 4.0%. That is up nearly 295% week-on-week and over 430% month-on-month. The share count rose from roughly 22,000 shorted shares on May 8 to a peak of around 111,000 on May 13, before pulling back to approximately 72,000 on May 15.
At 4% of float, the absolute level remains modest for an ETF. But the pace of change is the story. Short interest at this level moving this fast draws scrutiny, particularly when borrow simultaneously tightens.
The ORTEX short score sits at 47.4, up from 29.5 on May 5. The score has nearly doubled in two weeks. It is not yet in extreme territory — but the trend is clear and consistent with the tightening borrow data.
Data summary
See the live data behind this article on ORTEX.
Open GXPT on ORTEX →ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
