Short Interest Plummets 55% For VVC

The most recent short interest data has been released by the NASDAQ for the 09/30/2015 settlement date, which shows a 1,049,373 share decrease in total short interest for Vectren Corp (VVC), to 862,954, a decrease of 54.87% since 09/15/2015. 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 VVC at the 09/30/2015 settlement decreased to 307,595, as compared to 321,365 at the 09/15/2015 report. That brought "days to cover" down to 2.81, a 52.85% decrease from the 5.95 days to cover calculated at the previous short interest data release.

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

The chart below shows the one year performance of VVC shares, versus its 200 day moving average. Looking at this chart, VVC's low point in its 52 week range is $37.26 per share, with $49.47 as the 52 week high point — that compares with a last trade of $43.55.

Vectren Corp Chart

According to the ETF Finder at ETF Channel, VVC makes up 2.51% of the First Trust Utilities AlphaDEX Fund ETF (FXU) which is lower by about 0.1% on the day Tuesday.

More from Stocks

Santa Claus Rally? Machines Render Old Stock Market Adages Worthless

Santa Claus Rally? Machines Render Old Stock Market Adages Worthless

Procter & Gamble Helps Lead Dow Jones After Upgrade From Morgan Stanley

Procter & Gamble Helps Lead Dow Jones After Upgrade From Morgan Stanley

Hey Investors, Don't Let the Bad Times Pollute Your Mind

Hey Investors, Don't Let the Bad Times Pollute Your Mind

Make This Dividend Aristocrat a Staple of Your Portfolio

Make This Dividend Aristocrat a Staple of Your Portfolio

Join Jim Cramer's Club During Our '12 Days of Holiday Deals' Sale and Save 66%!

Join Jim Cramer's Club During Our '12 Days of Holiday Deals' Sale and Save 66%!