The most recent short interest data has been released for the 09/15/2017 settlement date, which shows a 2,549,236 share decrease in total short interest for Vonage Holdings Corp (VG - Get Report), to 9,061,556, a decrease of 21.96% since 08/31/2017. 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 VG at the 09/15/2017 settlement increased to 2,797,787, as compared to 1,982,253 at the 08/31/2017 report. That brought "days to cover" down to 3.24, a 44.71% decrease from the 5.86 days to cover calculated at the previous short interest data release.The below chart shows the historical "days to cover" for VG 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 VG had been shorted as a hedge. The chart below shows the one year performance of VG shares, versus its 200 day moving average. Looking at this chart, VG's low point in its 52 week range is $5.74 per share, with $8.59 as the 52 week high point — that compares with a last trade of $8.22. According to the ETF Finder at ETF Channel, VG makes up 47808.00% of the Guggenheim S&P SmallCap 600 Equal Weight ETF (EWSC) which is up by about 1.6% on the day Wednesday.
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
The Weak Dollar Is the Main Force in the Market Right Now
Gold continues to run higher as the dollar continues to collapse.
Stocks End Mixed as Wall Street Looks to G-20 Summit for U.S.-China Trade Talks
Stocks end little changed Monday as investors look to the upcoming G-20 summit for a breakthrough in talks between the world's two largest economies.
Palatin Jumps Then Pulls Back After FDA Clears Sexual-Desire Drug for Women
About 6 million women suffer from hypoactive sexual desire disorder, which Palatin's Vyleesi is designed to treat.
Spotify Shares Recover After Evercore Downgrade to Underperform
Spotify investors are overoptimistic about how gross margin will develop and about the outcome of negotiations with music labels, analyst Kevin Rippey in New York said in a June 24 report.