Short Interest In Sysco Drops 39%

Dec 26 2013, 10:39am CST | by

The most recent short interest data has been released by the NASDAQ for the 12/13/2013 settlement date, which shows a 17,565,574 share decrease in total short interest for Sysco Corp. (NYSE: SYY), to 27,552,373, a decrease of 38.93% since 11/29/2013. Total short interest is just one way to look at short data; another metric that we here at Dividend Channel find particularly useful is the “days to cover” metric because it considers both the total shares short and the average daily volume of shares traded. The number of shares short is then compared to the average daily volume, in order to calculate the total number of trading days (at the average volume) it would take to close out all of the open short positions if every share traded represented a short position being closed. Average daily volume for SYY at the 12/13/2013 settlement increased to 12,780,545, as compared to 2,552,842 at the 11/29/2013 report. That brought “days to cover” down to 2.16, a 87.80% decrease from the 17.67 days to cover calculated at the previous short interest data release.

Start slideshow:
Top 25 S.A.F.E. Dividend Stocks »/>

The below chart shows the historical “days to cover” for SYY at previous short interest release dates:

A decreased “days to cover” value could indicate that short sellers are no longer expecting the same decline in stock price they once were, or it could also indicate a long bet elsewhere was closed where SYY had been shorted as a hedge.

The chart below shows the one year performance of SYY shares, versus its 200 day moving average. Looking at this chart, SYY’s low point in its 52 week range is $30.55 per share, with $43.40 as the 52 week high point — that compares with a last trade of $36.52.

According to the ETF Finder at ETFChannel.com, SYY makes up 5.33% of the Wide Moat ETF (MOAT) which is lower by about 0.1% on the day Thursday.

See what other ETFs contain one »
In afternoon trading Thursday, SYY was trading flat on the day./>

Source: Forbes Business

 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

OPEC decides against oil production cut despite price slump
Viena, Nov 28 (IANS) The ministers of the Organization of Petroleum Exporting Countries(OPEC) decided here Thursday to maintain its output level despite crude oil price fell to a four-year low level.
 
 
18th Saarc Summit concludes with one pact, several understandings
Kathmandu, Nov 27 (IANS) The 18th South Asian Association for Regional Cooperation (Saarc) Summit concluded in Kathmandu Thursday with the adoption of a 36-point Kathmandu Declaration.
 
 
British supermarkets sold contaminated chicken
London, Nov 27 (IANS) Eight of the every 10 fresh chickens bought from British supermarkets this summer were contaminated with the potentially lethal food-poisoning bug campylobacter, the food watchdog has said.
 
 
SJVNL signs pact with Nepal for hydro-power plant
Kathmandu, Nov 27 (IANS) Indian public sector company Satluj Jal Vidyut Nigam Ltd. (SJVNL) has signed a project development agreement with the Nepal government for executing the 900 MW Arun-III Hydro Electric Project in eastern Nepal, officials said Thursday.
 
 
 

Latest from the Network

OPEC decides against oil production cut despite price slump
Viena, Nov 28 (IANS) The ministers of the Organization of Petroleum Exporting Countries(OPEC) decided here Thursday to maintain its output level despite crude oil price fell to a four-year low level. The decision to...
Read more on Business Balla
 
12 killed in bus accident in Egypt
Cairo, Nov 28 (IANS) At least 12 people were killed and three others injured Thursday as a passenger bus overturned into a canal in Egypt's Beni Sweif province, around 120 km south of the capital Cairo, media reported...
Read more on Politics Balla
 
Explosions, gun fire rock Kabul diplomatic enclave
Kabul, Nov 27 (IANS) Two explosions followed by gunfire rocked the diplomatic enclave here Thursday night, a security officer said. The area of the blast is close to the Tajikistan embassy. The incident occurred in...
Read more on Politics Balla
 
Saarc leaders' wives ladies go sight-seeing at Bhaktapur
Kathmandu, Nov 27 (IANS) While the Saarc leaders conferred on regional matters at the tourist resort of Dhulikhel, their wives drove to the World Heritage Site of Bhaktapur to enjoy the sights of the ancient city. The...
Read more on Politics Balla
 
Maria Shriver 'disgusted' by Miley Cyrus's party
Patrick Schwarzenegger's mother was ''disgusted'' by Miley Cyrus's birthday celebrations. Maria Shriver - who, along with Arnold Schwarzenegger, are the parents of the 21-year-old actor - is reportedly ''very worried''...
Read more on Celebrity Balla
 
Kim Kardashian and Kanye West planning nude photoshoot together?
Kim Kardashian West and Kanye West want to do a nude photoshoot together. The couple are reportedly keen to pose naked alongside each other, after the 34-year-old 'Keeping Up With The Kardashians' star recently stripped...
Read more on Celebrity Balla