Olin Corporation (NYSE:OLN), A drop of 220,242 shares or 1.3% was seen in the short interest of Olin. Even as the interest dropped from 16,780,364 shares on May 31,2016 to 16,560,122 shares on June 15,2016, the days to cover came in at 6. The updated interest stood at 10.1% of the stocks floats. The stock has seen an average daily volume of 2,765,509 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Olin Corporation (NYSE:OLN): The stock opened at $23.46 on Friday but the bulls could not build on the opening and the stock topped out at $24.03 for the day. The stock traded down to $22.85 during the day, due to lack of any buying support eventually closed down at $22.98 with a loss of -7.93% for the day. The stock had closed at $24.96 on the previous day. The total traded volume was 5,023,208 shares.
The company shares have dropped -14.35% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $27.73 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $22.78 and the 200 Day Moving Average price is recorded at $18.44.
Olin Corporation (NYSE:OLN) has tumbled 4.09% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 1.1% in the last four weeks. The stocks have underperformed the S&P 500 by 2.5% during the past week but Olin Corporation (NYSE:OLN) it has outperformed the index in 4 weeks by 4.16%.
Olin Corporation is a manufacturing company. The Company operates in three segments: Chlor Alkali Products, Chemical Distribution and Winchester. Chlor Alkali Products manufactures and sells chlorine and caustic soda, hydrochloric acid, hydrogen, bleach products and potassium hydroxide. Chemical Distribution manufactures bleach products and distributes caustic soda, bleach products, potassium hydroxide and hydrochloric acid. Winchester products segments include sporting ammunition, reloading components, small caliber military ammunition and components and industrial cartridges. The Companys subsidiary, Olin Canada ULC, operates one chlor alkali facility in Becancour, Canada, which sells chlor alkali-related products within Canada and to the United States and also sells and distributes ammunition within Canada. Its subsidiary, Winchester Australia Limited, loads and packs sporting and industrial ammunition in Australia.