The most recent short interest data has been released for the 10/31/2017 settlement date, which shows a 1,089,357 share decrease in total short interest for Simmons First National Corp (SFNC - Get Report), to 1,844,781, a decrease of 37.13% since 10/13/2017. 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 SFNC at the 10/31/2017 settlement increased to 366,264, as compared to 145,387 at the 10/13/2017 report. That brought "days to cover" down to 5.04, a 75.04% decrease from the 20.18 days to cover calculated at the previous short interest data release.The below chart shows the historical "days to cover" for SFNC 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 SFNC had been shorted as a hedge. The chart below shows the one year performance of SFNC shares, versus its 200 day moving average. Looking at this chart, SFNC's low point in its 52 week range is $49.25 per share, with $67.00 as the 52 week high point — that compares with a last trade of $55.20. According to the ETF Finder at ETF Channel, SFNC makes up 1.29% of the PowerShares S&P SmallCap Financials Portfolio ETF (PSCF) which is up by about 0.6% on the day Friday.
More from Stocks
US Earnings Preview: Banks Kick Off Q3 Season as Trade Woes Clip Profit Growth
The U.S. third quarter earnings season kicks-off this week with a spate of big bank profit updates that could both define with weakest sector performance in three years and set the tone for broader equity market direction between now and the end of the year.
Dow Futures Slip Lower Amid US-China Trade Deal Questions; Q3 Earnings in Focus
Global stocks traded mostly lower Monday, while U.S. equity futures suggested modest gains to start the week on Wall Street, as investors parsed through the thin details of last week's trade truce between Washington and Beijing and prepped for the start of the third quarter earnings season that could define market direction between now and the end of the year.
White House Trade Official Boasts Trade Deal as 'Huge' for Farmers
Peter Navarro tells the White House-friendly 'Fox and Friends' show that the deal will be a 'boom in farm country.'
Market Wrap: GM Addresses New Offer Directly to Striking Workers
The autoworkers strike could cost GM up to $1.5 billion, according to a Credit Suisse note.