The most recent short interest data has been released for the 06/30/2017 settlement date, which shows a 1,491,920 share decrease in total short interest for Advance Auto Parts Inc (AAP - Get Report), to 7,377,955, a decrease of 16.82% since 06/15/2017. 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 AAP at the 06/30/2017 settlement increased to 1,855,576, as compared to 1,409,917 at the 06/15/2017 report. That brought "days to cover" down to 3.98, a 36.80% decrease from the 6.29 days to cover calculated at the previous short interest data release.The below chart shows the historical "days to cover" for AAP at previous short interest release dates: 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 AAP had been shorted as a hedge. The chart below shows the one year performance of AAP shares, versus its 200 day moving average. Looking at this chart, AAP's low point in its 52 week range is $99.13 per share, with $177.83 as the 52 week high point — that compares with a last trade of $102.95.
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Stocks
Stocks Higher as Wall Street Tries Putting Aside Trade War Worries
Stocks trade higher Friday as Wall Street heads into a long Memorial Day weekend.
Add Foot Locker to the Latest List of Retail Casualties
There's little in the report or technical picture that makes me want to rush into FL.
HPE's CFO Discusses Impact of Cloud Trends and Lower Memory Prices
During a talk with TheStreet right after its earnings report, CFO Tarek Robbiati talks about how HPE is trying to position itself as cloud infrastructure adoption continues, and what kind of boost it's getting from lower memory prices.
Boeing Could Face SEC Probe Into 737 MAX Groundings - Report
The SEC is examining whether the company was forthcoming to shareholders about problems with the 737 MAX jet.