Short bets ramp up on media, utilities, other stocks

Trader on the floor of the New York Stock Exchange.
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Short sellers are getting back into the stock market in hopes of a coming price correction.

Short interest—as measured by the average percent of shares out on loan in the S&P 500 index to hedge funds and others—is up more than 8 percent in the last eight weeks, according to financial information provider Markit.

"While most of the market's recent price appreciation was seen over the last month, we've also seen shorts add to their positions in line with the market swell," Simon Colvin, a Markit analyst, wrote in a report Tuesday.