AK Steel Holding Corporation June 15th Short Interest Update

AK Steel Holding Corporation (NYSE:AKS), A drop of 3,623,722 shares or 9.6% was seen in the short interest of AK Steel Holdings Corproation. Even as the interest dropped from 37,755,931 shares on May 31,2016 to 34,132,209 shares on June 15,2016, the days to cover came in at 3. The updated interest stood at 14.8% of the stocks floats. The stock has seen an average daily volume of 13,288,278 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

AK Steel Holding Corporation (NYSE:AKS): The stock opened at $4.57 on Friday but the bulls could not build on the opening and the stock topped out at $4.70 for the day. The stock traded down to $4.33 during the day, due to lack of any buying support eventually closed down at $4.40 with a loss of -9.65% for the day. The stock had closed at $4.87 on the previous day. The total traded volume was 18,647,486 shares.

The company shares have rallied 11.96% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $5.50 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $4.26 and the 200 Day Moving Average price is recorded at $3.45.

AK Steel Holding Corporation (NYSE:AKS) has tumbled 10.02% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 7.32% in the last four weeks. The stocks have underperformed the S&P 500 by 8.53% during the past week but AK Steel Holding Corporation (NYSE:AKS) it has outperformed the index in 4 weeks by 10.56%.

AK Steel Holding Corporation (AK Holding) is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its wholly-owned subsidiary, AK Steel Corporation (AK Steel and, together with AK Holding, the Company). The operations of the Company and its wholly owned subsidiaries consist primarily of eight steelmaking and finishing plants, two coke plants and two tube manufacturing plants across six states, which include Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia. These operations produce flat-rolled carbon steels, including coated, cold-rolled and hot-rolled carbon steel products, and specialty stainless and electrical steels that are sold in sheet and strip form, as well as carbon and stainless steel that is finished into welded steel tubing. These products are sold to the automotive, infrastructure and manufacturing, and distributors and converters markets.

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