Pentair plc. (PNR) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 7,809,190 to 7,626,164 shares, with 7 days to go before the expiry. The short open interest has decreased by -2.3%, amounting to a reduction of -183,026 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 4.2% of the float of the company. The average daily volume of the stock is 1,085,391 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Pentair plc. (NYSE:PNR): The stock opened at $65.10 on Wednesday but the bulls could not build on the opening and the stock topped out at $65.14 for the day. The stock traded down to $64.20 during the day, due to lack of any buying support eventually closed down at $64.51 with a loss of -0.94% for the day. The stock had closed at $65.12 on the previous day. The total traded volume was 1,724,695 shares.
In a related news, Monahan William T, director of Pentair Plc, unloaded 10,000 shares at an average price of $65 on August 11, 2016. The total amount of the transaction was worth $650,000, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.