Discover Financial Services (NYSE:DFS) encountered a drop of 6.4% or -407,594 shares in the short positions. The number dropped from 6,369,897 on May 31,2016 to 5,962,303 on June 15,2016. The final interest is 1.5% of the floated stock. The days to cover figure of 2 can be arrived using the average daily exchange of 2,825,953 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Discover Financial Services (NYSE:DFS): The stock opened at $51.54 on Friday but the bulls could not build on the opening and the stock topped out at $53.09 for the day. The stock traded down to $51.33 during the day, due to lack of any buying support eventually closed down at $51.79 with a loss of -4.59% for the day. The stock had closed at $54.28 on the previous day. The total traded volume was 6,476,222 shares.
The company shares have dropped -9.66% from its 1 Year high price. On Jul 21, 2015, the shares registered one year high at $59.88 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $55.12 and the 200 Day Moving Average price is recorded at $51.67.
Discover Financial Services (NYSE:DFS) has tumbled 1.91% during the past week and has dropped 8.79% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 0.29%. Discover Financial Services (NYSE:DFS) has underperformed the index by 6.03% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company provides direct banking products and services and payment services through its subsidiaries. The Company manages its business activities in two segments: Direct Banking and Payment Services. Direct Banking segment includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including private student loans, personal loans, home loans, home equity loans, prepaid cards and other consumer lending and deposit products. The Payment Services segment includes PULSE, Diners Club and the Companys network partners business, which provides payment transaction processing and settlement services on the Discover Network.