The most recent short interest data has been released by the NASDAQ for the 06/30/2014 settlement date, which shows a 639,669 share decrease in total short interest for CST Brands Inc (CST), to 5,458,823, a decrease of 10.49% since 06/13/2014. 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 CST at the 06/30/2014 settlement increased to 774,084, as compared to 566,366 at the 06/13/2014 report. That brought "days to cover" down to 7.05, a 34.51% decrease from the 10.77 days to cover calculated at the previous short interest data release.The below chart shows the historical "days to cover" for CST at previous short interest release dates:
Short Interest Falls 10.5% For CST
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