Memorial Production Partners LP (MEMP) : The traders have covered their outstanding shorts in Memorial Production Partners LP (MEMP) to the tune of -100,635 shares, a change of -4.1%. As on Jul 29, 2016, the outstanding shorts on the stock were 2,436,329 shares, however, by August 15, 2016, the shorts had reduced to 2,335,694 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 2.9% of the free float of the stock. It takes 4 days to cover the outstanding short positions. The stock has an average daily volume of 536,444 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Memorial Production Partners LP (NASDAQ:MEMP): The stock opened at $1.88 on Wednesday but the bulls could not build on the opening and the stock topped out at $1.90 for the day. The stock traded down to $1.80 during the day, due to lack of any buying support eventually closed down at $1.82 with a loss of -3.19% for the day. The stock had closed at $1.88 on the previous day. The total traded volume was 255,994 shares.
Memorial Production Partners LP (the Partnership) focuses on owning, acquiring and exploiting oil and natural gas properties in North America. The Partnership is owned 99.9% by its limited partners and 0.1% by its general partner, which is a wholly owned subsidiary of Memorial Resource. Its general partner is responsible for managing all of the Partnerships operations and activities. The Partnership operates in one reportable segment whose business activities are conducted through OLLC, its wholly owned subsidiary, and its wholly owned subsidiaries. Its assets consist primarily of producing oil and natural gas properties and are located in Texas, Louisiana, Colorado, Wyoming, New Mexico and offshore Southern California. Most of its oil and natural gas properties are located in oil and natural gas reservoirs with geologic characteristics and production profiles and capital requirements.