Short Interest Drops 10.7% For CZR

The most recent short interest data has been released for the 11/15/2016 settlement date, which shows a 1,478,080 share decrease in total short interest for Caesars Entertainment Corp ( CZR), to 12,310,716, a decrease of 10.72% since 10/31/2016. 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 CZR at the 11/15/2016 settlement increased to 721,631, as compared to 645,705 at the 10/31/2016 report. That brought "days to cover" down to 17.06, a 20.11% decrease from the 21.35 days to cover calculated at the previous short interest data release.

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

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