World Acceptance Stock Sees Short Interest Fall 14%

The most recent short interest data has been released by the NASDAQ for the 04/30/2013 settlement date, which shows a 496,470 share decrease in total short interest for World Acceptance Corp. (WRLD), to 3,079,835, a decrease of 13.88% since 04/15/2013. 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 WRLD at the 04/30/2013 settlement increased to 181,660, as compared to 91,646 at the 04/15/2013 report. That brought "days to cover" down to 16.95, a 56.55% decrease from the 39.02 days to cover calculated at the previous short interest data release. The below chart shows the historical "days to cover" for WRLD at previous short interest release dates:

Loading+chart++2013+TickerTech.com

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 WRLD had been shorted as a hedge.

START SLIDESHOW:
The 10 Most Shorted Stocks of the Dow »

The chart below shows the one year performance of WRLD shares, versus its 200 day moving average. Looking at this chart, WRLD's low point in its 52 week range is $61.00 per share, with $94.15 as the 52 week high point — that compares with a last trade of $93.83.

World Acceptance Corp. Chart

WRLD makes up 2.22% of the iShares Enhanced U.S. Small-Cap ETF (IESM)

In afternoon trading Friday, WRLD was up about 1.2% on the day.

null

More from Stocks

Tesla CEO Elon Musk Is a Rock Star: Kiss Icon Gene Simmons

Tesla CEO Elon Musk Is a Rock Star: Kiss Icon Gene Simmons

The Best Investment Advice? Stay Diversified

The Best Investment Advice? Stay Diversified

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Listen: Should You Buy Cisco Now?

Listen: Should You Buy Cisco Now?

Amazon Could Devastate Walgreens and Rite Aid by Getting Into Pharmacy Business

Amazon Could Devastate Walgreens and Rite Aid by Getting Into Pharmacy Business