American Capital Ltd. (ACAS) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 2,884,431 to 2,635,562 shares, with 3 days to go before the expiry. The short open interest has decreased by -8.6%, amounting to a reduction of -248,869 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 1.3% of the float of the company. The average daily volume of the stock is 1,038,133 shares. The short interest information was released on Wednesday Aug 24th after the market close.
American Capital Ltd. (NASDAQ:ACAS): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $16.60 and $16.40 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $16.72. The buying momentum continued till the end and the stock did not give up its gains. It closed at $16.65, notching a gain of 0.18% for the day. The total traded volume was 1,136,681 . The stock had closed at $16.62 on the previous day.
In a related news, The Securities and Exchange Commission has divulged that Lindsey Mark Wayne, officer (SVP and Chief Acctg Officer) of American Capital, Ltd, had unloaded 628 shares at an average price of $16.42 in a transaction dated on July 28, 2016. The total value of the transaction was worth $10,312.
American Capital, Ltd. is a global asset manager and private equity firm. The Firm both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate, energy and structured products. It invests in senior and mezzanine debt and equity in buyouts of private companies sponsored by the Company or sponsored by other private equity funds and provides capital to early stage and mature private and small public companies. It also invests in first and second lien floating rate loans to large-market United States based companies and structured finance investments, including loan securities, debt obligation securities and commercial mortgages and commercial mortgage backed securities. Its business objectives are to increase its net earnings and net asset value by making investments with yields and/or potential for equity and gains and by growing its fee earning assets under management.