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Keeping securities until maturity also gives it the flexibility to avert mark-to-market losses.

It is true that institutional funds with a long-term horizon are better equipped to take advantage of higher coupons than investors buying bond indices and bond funds who might find it harder to bear a few quarters of mark-to-market losses.

Short sellers of Nvidia's stock have made $826 million in mark-to-market losses on Thursday, data from analytics firm S3 Partners showed.

The 13-day rally cost short sellers more than $7 billion in mark-to-market losses, taking year-to-date losses to nearly $12.7 billion, according to S3 Partners.

"It's supposed to be mark-to-market, not mark-to-fantasy," Peiffer said.