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Caterpillar short sellers scale back positions after losses of almost $1 billion in 2016

The number of investors betting that Caterpillar Inc. shares will fall has shrunk dramatically in the last month, after the trade caused nearly a billion dollars of losses in 2016.

Financial analytics firm S3 Partners, which has access to and tracks real-time short interest data, said short interest in Caterpillar CAT, -1.24% has decreased by $482 million in the past 30 days, accounting for the bulk of the reduction in short interest in the construction, farm machinery and heavy truck sector.

“After half a decade of weak demand, short interest in Caterpillar Inc. (CAT) averaged $3.3 billion in 2016, the first time short interest averaged over $3 billion in its history,” said Ihor Dusaniwsky, head of research at S3, in a new report.

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