The most recent short interest data has been released by the NASDAQ for the 05/31/2013 settlement date, which shows a 1,862,105 share decrease in total short interest for CBL & Associates Properties, Inc. ( CBL), to 9,265,029, a decrease of 16.73% since 05/15/2013. 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 CBL at the 05/31/2013 settlement increased to 2,307,262, as compared to 1,318,779 at the 05/15/2013 report. That brought "days to cover" down to 4.02, a 52.41% decrease from the 8.44 days to cover calculated at the previous short interest data release.The below chart shows the historical "days to cover" for CBL 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 CBL had been shorted as a hedge.