Novartis AG (NVS) : The traders have covered their outstanding shorts in Novartis AG (NVS) to the tune of -53,191 shares, a change of -1.3%. As on Jul 29, 2016, the outstanding shorts on the stock were 4,230,472 shares, however, by August 15, 2016, the shorts had reduced to 4,177,281 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 0.2% 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 1,071,859 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Novartis AG (NYSE:NVS): The stock opened at $81.53 on Wednesday but the bulls could not build on the opening and the stock topped out at $81.59 for the day. The stock traded down to $80.16 during the day, due to lack of any buying support eventually closed down at $80.30 with a loss of -1.30% for the day. The stock had closed at $81.36 on the previous day. The total traded volume was 1,400,770 shares.
Novartis AG is a holding company that, through its subsidiaries, is engaged in development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals around the world. Its portfolio includes medicines, eye care, generic pharmaceuticals, preventive vaccines and over-the-counter (OTC) products. The Companys segments include Pharmaceuticals, which include patent-protected prescription medicines; Alcon, which include surgical, ophthalmic pharmaceutical and vision care products; Sandoz, which include generic pharmaceuticals, and Consumer Health, which includes the OTC Division. Pharmaceuticals products include Afinitor/Votubia, Exjade, Galvus, Exforge and Voltaren, among others. Its Sandoz products include Valsartan (Diovan), Cyclophosphamide injection and AirFluSal Forspiro, among others. Its OTC offers readily available consumer medicine. The Company operates Admune Therapeutics as a wholly owned subsidiary.