The most recent short interest data has been released for the 02/15/2018 settlement date, which shows a 535,334 share decrease in total short interest for Cabot Corp. (CBT - Get Report), to 890,501, a decrease of 37.55% since 01/31/2018. 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 CBT at the 02/15/2018 settlement increased to 625,102, as compared to 392,352 at the 01/31/2018 report. That brought "days to cover" down to 1.42, a 60.80% decrease from the 3.63 days to cover calculated at the previous short interest data release.The below chart shows the historical "days to cover" for CBT 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 CBT had been shorted as a hedge. The chart below shows the one year performance of CBT shares, versus its 200 day moving average. Looking at this chart, CBT's low point in its 52 week range is $50.21 per share, with $68.63 as the 52 week high point — that compares with a last trade of $61.22. According to the ETF Finder at ETF Channel, CBT makes up 3.29% of the First Trust Materials AlphaDEX Fund ETF (FXZ) which is lower by about 0.2% on the day Wednesday.
More from Stocks
Sonos Resonates With Investors on Raymond James Upgrade to Strong Buy
Digital-home-audio-device maker is well-positioned relative to peers, the firm says.
Domino's Keeps Delivery In-House, Reportedly Avoids Use of Third-Party Apps
Domino's CEO says the profit lost to commissions and risk to customer goodwill make the delivery apps not worthwhile.
Range Resources Shares Energized After Upgrade to Buy at MKM
MKM analyst John Gerdes sees upside potential in the oil-and-gas producer.
Men's Wearhouse Owner Tailored Brands Gives Up Gains After Guidance
The company sells its corporate apparel business to that division's current management team for $62 million.
Jeff Bezos, Tim Cook and Other Top CEOs Vow to Redefine Corporations' Goals
Heads of Amazon, Apple, IBM, JPMorgan Chase and other major firms say they'll shift from a shareholder-first mentality to a more society-centric view.