Frontline Ltd. (NYSE:FRO) stated loss of 468,366 shares or 8.5% in the short interest. The short interest registered from 5,512,974 on May 31,2016 to 5,044,608 on June 15,2016. In terms of floated shares, the shorted positions stood at 7.9%. The stock has been averaging 1,786,453 shares daily in trading and would need 3 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Frontline Ltd. (NYSE:FRO): The stock opened at $7.82 on Friday but the bulls could not build on the opening and the stock topped out at $8.18 for the day. The stock traded down to $7.81 during the day, due to lack of any buying support eventually closed down at $7.98 with a loss of -5.45% for the day. The stock had closed at $8.44 on the previous day. The total traded volume was 4,751,316 shares.
The company shares have dropped -37.66% from its 1 Year high price. On Nov 9, 2015, the shares registered one year high at $17.05 and the one year low was seen on May 4, 2016. The 50-Day Moving Average price is $8.36 and the 200 Day Moving Average price is recorded at $9.67.
Frontline Ltd. (NYSE:FRO) has tumbled 2.33% during the past week and has dropped 0.5% in the last 4 week period. The stocks have underperformed the S&P 500 by 0.7% during the past week but Frontline Ltd. (NYSE:FRO) it has outperformed the index in 4 weeks by 2.51%.
Frontline Ltd. is a shipping company. The Company is engaged in the ownership and operation of oil tankers. The Company operates oil tankers of two sizes: very large crude carriers (VLCCs), which are between 200,000 and 320,000 deadweight tons, and Suezmax tankers, which are vessels between 120,000 and 170,000 deadweight tons. The Company operates through subsidiaries and partnerships located in the Bahamas, Bermuda, the Cayman Islands, India, the Isle of Man, Liberia, Norway, the United Kingdom and Singapore. It is also involved in the charter, purchase and sale of vessels. As of December 31, 2014, the Companys tanker fleet consisted of 22 vessels and consists of 14 VLCCs (excluding the four vessels in the Windsor group) and eight Suezmax tankers, of which one Suezmax, Front Ull, is owned and the remaining 21 are chartered in.