Tesco (TSCO), never really the target of short investors, has seen some short covering as of late. The percentage of the supermarket giant's Market Cap out on loan (%MCOL) to short investors has dropped from 1.1% in early September, to 0.77% today. Tesco reported an 11.3% increase in first-half profits before tax to £1.44bn, and figures were in line with expectations and the shares rose 17.7p to 387.6p. Utilisation is at just 2.19%. The only time Tesco has seen its %MCOL increase was in August, potentially because it was caught up in a Turkish political backlash.
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