Last month's impressive rally in bank stocks also spurred a jump in short-selling of these stocks as many investors apparently hedged their bets against further increases in interest rates.

According to a monthly survey being introduced today in the American Banker, aggregate short interest in banking, thrift, and related stocks traded on the New York and American stock exchanges, as of March 15, was 124,917,829 shares, up 2.1% from a month earlier.

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