Fifth Third Bancorp (NASDAQ:FITB) has shown a drop of 26% or 7,304,858 shares in the short positions. The bets have increased to 20,772,127 shares on June 15,2016 from 28,076,985 shares on May 31,2016. With respect to the floated shares, the shorts are 2.7%. The days to cover are calculated to be 3, using the standard per day volume of 6,978,004 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Fifth Third Bancorp (NASDAQ:FITB): The stock opened at $17.90 on Friday but the bulls could not build on the opening and the stock topped out at $18.17 for the day. The stock traded down to $17.50 during the day, due to lack of any buying support eventually closed down at $17.50 with a loss of -8.42% for the day. The stock had closed at $19.11 on the previous day. The total traded volume was 11,595,183 shares.
The company shares have dropped -15.66% from its 1 Year high price. On Jul 21, 2015, the shares registered one year high at $21.93 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $18.29 and the 200 Day Moving Average price is recorded at $17.59.
Fifth Third Bancorp (NASDAQ:FITB) has tumbled 3.9% during the past week and has dropped 7.16% 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 2.3%. Fifth Third Bancorp (NASDAQ:FITB) has underperformed the index by 4.35% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Fifth Third Bancorp is a bank holding company. The Companys subsidiary, Fifth Third Bank, provide a range of financial products and services to the retail, commercial, financial, governmental, educational and medical sectors, and credit products, such as credit cards, installment loans, mortgage loans and leases. The Company operates in four business segments: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors. Commercial Banking offers credit intermediation, cash management and financial services to market businesses and Government, and professional customers. Branch Banking provides a range of deposit and loan and lease products to individuals and businesses through approximately 1,302 Banking Centers. Consumer Lending includes its mortgage, home equity, automobile and other indirect lending activities. Investment Advisors provides a range of investment alternatives for individuals, companies and not-for-profit organizations.