Short Interest Declines 14% For ECOL

The most recent short interest data has been released by the NASDAQ for the 03/31/2015 settlement date, which shows a 287,332 share decrease in total short interest for US Ecology, Inc. (ECOL), to 1,747,727, a decrease of 14.12% since 03/13/2015. 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 ECOL at the 03/31/2015 settlement increased to 183,302, as compared to 171,215 at the 03/13/2015 report. That brought "days to cover" down to 9.53, a 19.78% decrease from the 11.89 days to cover calculated at the previous short interest data release.

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

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

Loading+chart++2015+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 ECOL had been shorted as a hedge.

The chart below shows the one year performance of ECOL shares, versus its 200 day moving average. Looking at this chart, ECOL's low point in its 52 week range is $38.42 per share, with $52.42 as the 52 week high point — that compares with a last trade of $49.22.

US Ecology, Inc. Chart

ECOL makes up 3.65% of the Environmental Services ETF (EVX)

More from Stocks

Is the Cannabis Crazy Equivalent to the Dot Com Bubble?

Is the Cannabis Crazy Equivalent to the Dot Com Bubble?

Get a Juicy 8%+ Dividend Yield With Solid Income Streams All in One Stock

Get a Juicy 8%+ Dividend Yield With Solid Income Streams All in One Stock

U.S.-Chinese Trade War Could Mash Up Apple

U.S.-Chinese Trade War Could Mash Up Apple

How to Overcome the Fear of Trading Super-Momentum Stocks

How to Overcome the Fear of Trading Super-Momentum Stocks

Tesla's People Problem and the Inscrutable Musk: 2 Things That Make You Go Hmmm

Tesla's People Problem and the Inscrutable Musk: 2 Things That Make You Go Hmmm