QUALCOMM Incorporated June 15th Short Interest Update

QUALCOMM Incorporated (NASDAQ:QCOM) reported a drop of 23.3% or 5,200,544 shares in its short interest. The short figure came in at 1.2% of the total floats. The average daily volume of 9,562,625 shares suggests that the days to cover 17,088,311 short positions, as on June 15,2016, will be 2. On May 31,2016, the short interest was 22,288,855 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

QUALCOMM Incorporated (NASDAQ:QCOM): The stock opened at $53.01 on Friday but the bulls could not build on the opening and the stock topped out at $53.82 for the day. The stock traded down to $52.12 during the day, due to lack of any buying support eventually closed down at $52.12 with a loss of -6.17% for the day. The stock had closed at $55.55 on the previous day. The total traded volume was 17,018,501 shares.

The company shares have dropped -16.77% from its 1 Year high price. On Jul 21, 2015, the shares registered one year high at $66.05 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $53.66 and the 200 Day Moving Average price is recorded at $50.47.

QUALCOMM Incorporated (NASDAQ:QCOM) has tumbled 2.67% during the past week and has dropped 5.7% 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 1.06%. QUALCOMM Incorporated (NASDAQ:QCOM) has underperformed the index by 2.85% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Qualcomm Incorporated (Qualcomm) is engaged in providing third-generation (3G), fourth-generation (4G) and next-generation wireless technologies. The Companys products include 2net, AllPlay, Brew, Gobi, Halo, HealthyCircles, Hy-Fi, IPQ, IZat, Pixtronix, Powerline, QChat, QLearn, Small Cells, Snapdragon, Vive, RaptorQ, Vuforia and WiPower. AllPlay helps manufacturers create devices and services. It also helps developers create Android and iPhone operating system (iOS) music streaming applications. The Companys Brew platform enables feature phone applications, such as gaming, messaging, Web browsing and social networking. Qualcomm Gobi modems connect users devices to 3G, 4G, and 4G long-term evolution (LTE) networks. Qualcomm Halo technology eliminates the need for plug-in cords for recharging in electric and hybrid vehicles. Qualcomm Powerline solutions turn electrical outlets into broadband connection points, creating networks by plugging in.

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