Short Interest In Dover Falls 22%

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 849,017 share decrease in total short interest for Dover Corp (NYSE: DOV), to 3,009,849, a decrease of 22.00% 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 DOV at the 12/13/2013 settlement increased to 1,045,113, as compared to 627,202 at the 11/29/2013 report. That brought “days to cover” down to 2.88, a 53.19% decrease from the 6.15 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 DOV 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 DOV had been shorted as a hedge.

The chart below shows the one year performance of DOV shares, versus its 200 day moving average. Looking at this chart, DOV’s low point in its 52 week range is $64.20 per share, with $95.98 as the 52 week high point — that compares with a last trade of $95.97.

According to the ETF Finder at ETFChannel.com, DOV makes up 2.60% of the Dynamic Industrials Sector Portfolio ETF (PRN) which is higher by about 0.6% on the day Thursday.

See what other ETFs contain one »
In afternoon trading Thursday, DOV was up about 0.5% 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

Finnish scientists identify new type of black hole
Helsinki, Oct 31 (IANS) Finnish researchers have discovered a new type of low-mass black hole, which is a bright celestial body that emits X-ray, the University of Turku has said.
 
 
Union Carbide ex-chief Warren Anderson is dead
Washington, Oct 31 (IANS) Warren Anderson, former chief executive officer of the Union Carbide Corporation, is dead, a media report said Friday. He was 92.
 
 
Himalayan Viagra fuels gold rush for local Tibetans
Washington, Oct 31 (IANS) Overwhelmed by people trying to find the prized medicinal fungus known as Himalayan Viagra, two isolated Tibetan communities have managed to implement a successful system for the sustainable harvest of the precious natural resource, suggests research.
 
 
Oceans were always there on Earth: Scientists
Washington, Oct 31 (IANS) Debunking previous theories that water came late to Earth well after the planet had formed, researchers have significantly moved back the clock for the first evidence of water on Earth and in the inner solar system.
 
 
 

Latest from the Network

Orson Welles last film to be released
Orson Welles' final movie will finally be released next year. The acclaimed filmmaker had worked on 'The Other Side of the Wind' - which chronicles a temperamental film director battling with the Hollywood establishment...
Read more on Movie Balla
 
Game of Thrones stars get pay rise
'Games of Thrones' cast members will be paid $300,000 an episode. Five of the shows biggest stars - Peter Dinklage, Kit Harington, Lena Headey, Emilia Clarke and Nikolaj Coster-Waldau - have landed bumper payrises after...
Read more on Celebrity Balla
 
Mike Tyson: I was abused
Mike Tyson claims he was sexually abused as a child. The 48-year-old retired boxer was ''snatched'' off the street when he was seven by an ''old man'', who he never saw again after the shocking one-time incident....
Read more on Celebrity Balla
 
Amanda Bynes released from psychiatric facility
Amanda Bynes has been released from a psychiatric treatment facility. The 'Easy A' actress was spotted walking around Sunset Strip, West Hollywood, last night (30.10.14), 19 days after she was admitted to the hospital...
Read more on Celebrity Balla
 
Lindsay Lohan sued for 60m
Lindsay Lohan is being sued for over $60 million. A website developer has filed a case against the 'Mean Girls' actress and her brother Michael in which he accused them of stealing one of his ideas. According to Fima...
Read more on Celebrity Balla
 
Russell Brand to give money away
Russell Brand plans to give away his future earnings. The 39-year-old star insists he ''doesn't need'' to make money for himself anymore so wants to use his fortune to help those in need. He told Vanity Fair magazine...
Read more on Celebrity Balla
 
Koji Uerhara Signs 2-Year, $18M Deal With Boston Red Sox
Ace Japanese closer Koji Uehara signed a two-year deal with the Boston Red Sox on Oct. 30.According to MLB.com's Ian Browne, Uehara's deal is worth $18 million:"Perhaps it was fitting that the Red Sox announced a two-...
Read more on Sport Balla
 
Finnish scientists identify new type of black hole
Helsinki, Oct 31 (IANS) Finnish researchers have discovered a new type of low-mass black hole, which is a bright celestial body that emits X-ray, the University of Turku has said. Researchers at the Finnish university...
Read more on Business Balla
 
Union Carbide ex-chief Warren Anderson is dead
Washington, Oct 31 (IANS) Warren Anderson, former chief executive officer of the Union Carbide Corporation, is dead, a media report said Friday. He was 92. His death revived memories of the 1984 Bhopal gas tragedy. He...
Read more on Business Balla
 
Himalayan Viagra fuels gold rush for local Tibetans
Washington, Oct 31 (IANS) Overwhelmed by people trying to find the prized medicinal fungus known as Himalayan Viagra, two isolated Tibetan communities have managed to implement a successful system for the sustainable...
Read more on Business Balla