Lexington Realty Trust Stock Sees Short Interest Fall 10.2%

The most recent short interest data has been released by the NASDAQ for the 10/15/2013 settlement date, which shows a 1,260,975 share decrease in total short interest for Lexington Realty Trust (LXP), to 11,065,802, a decrease of 10.23% since 09/30/2013. 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 LXP at the 10/15/2013 settlement increased to 2,745,662, as compared to 1,737,560 at the 09/30/2013 report. That brought "days to cover" down to 4.03, a 43.19% decrease from the 7.09 days to cover calculated at the previous short interest data release.

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

The below chart shows the historical "days to cover" for LXP 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 LXP had been shorted as a hedge.

The chart below shows the one year performance of LXP shares, versus its 200 day moving average. Looking at this chart, LXP's low point in its 52 week range is $8.84 per share, with $13.82 as the 52 week high point — that compares with a last trade of $11.77.

Lexington Realty Trust Chart

According to the ETF Finder at ETF Channel, LXP makes up 3.07% of the KBW Premium Yield Equity REIT Portfolio ETF (KBWY) which is up by about 0.7% on the day Friday.

According to Preferred Stock Channel, there is are 2 series of preferred stock that are senior to LXP — find out what they are ».

In afternoon trading Friday, LXP was up about 0.6% on the day.

null

More from Stocks

Dow Futures Tank as Trade War Fears Grip Wall Street

Dow Futures Tank as Trade War Fears Grip Wall Street

Why GE's Stock Has Fallen 9% in the Last 30 Days

Why GE's Stock Has Fallen 9% in the Last 30 Days

5 Stock Picks Under $10 for Millennials

5 Stock Picks Under $10 for Millennials

3 Complicated Investing Strategies Millennials Love

3 Complicated Investing Strategies Millennials Love

Tyson Foods CEO: We Aren't Done Making Deals

Tyson Foods CEO: We Aren't Done Making Deals