The most recent short interest data has been released by the NASDAQ for the 02/14/2014 settlement date, which shows a 429,704 share increase in total short interest for First Midwest Bancorp, Inc. (FMBI), to 1,814,172, an increase of 31.04% since 01/31/2014. 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 FMBI at the 02/14/2014 settlement decreased to 319,754, as compared to 392,160 at the 01/31/2014 report. That brought "days to cover" up to 5.67, a 60.71% increase from the 3.53 days to cover calculated at the previous short interest data release.
Short Interest Jumps 31% For FMBI
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