Short Interest Decreases By 20.3% For GLUU

The most recent short interest data has been released by the NASDAQ for the 02/14/2014 settlement date, which shows a 3,189,435 share decrease in total short interest for Glu Mobile Inc (GLUU), to 12,548,222, a decrease of 20.27% 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 GLUU at the 02/14/2014 settlement increased to 7,395,314, as compared to 2,736,506 at the 01/31/2014 report. That brought "days to cover" down to 1.70, a 70.50% decrease from the 5.75 days to cover calculated at the previous short interest data release.

START SLIDESHOW:
Top 25 S.A.F.E. Dividend Stocks »

The below chart shows the historical "days to cover" for GLUU at previous short interest release dates:

Loading+chart++2014+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 GLUU had been shorted as a hedge.

The chart below shows the one year performance of GLUU shares, versus its 200 day moving average. Looking at this chart, GLUU's low point in its 52 week range is $2.10 per share, with $5.215 as the 52 week high point — that compares with a last trade of $5.09.

Glu Mobile Inc Chart

In afternoon trading Thursday, GLUU was up about 3.5% on the day.

More from Stocks

Amazon Shares Near All-Time High on Huge Quarterly Earnings Beat

Amazon Shares Near All-Time High on Huge Quarterly Earnings Beat

Barbie Flexes Her Muscle in Mattel's Q1 Earnings

Barbie Flexes Her Muscle in Mattel's Q1 Earnings

Coke's a Better Stock Buy Than Pepsi on North America Sales
Amazon Crushes First-Quarter Profit Estimates -- Watch TheStreet's Live Analysis

Amazon Crushes First-Quarter Profit Estimates -- Watch TheStreet's Live Analysis

Dow Jumps 238 Points as S&P 500, Nasdaq Also Climb

Dow Jumps 238 Points as S&P 500, Nasdaq Also Climb