ARRIS Group (ARRS) : The traders have covered their outstanding shorts in ARRIS Group (ARRS) to the tune of -1,354,006 shares, a change of -21.5%. As on Jul 29, 2016, the outstanding shorts on the stock were 6,297,730 shares, however, by August 15, 2016, the shorts had reduced to 4,943,724 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 2.6% of the free float of the stock. It takes 3 days to cover the outstanding short positions. The stock has an average daily volume of 1,442,680 shares. The short interest information was released on Wednesday Aug 24th after the market close.
ARRIS Group (NASDAQ:ARRS): The stock opened at $27.08 on Wednesday but the bulls could not build on the opening and the stock topped out at $27.20 for the day. The stock traded down to $26.40 during the day, due to lack of any buying support eventually closed down at $26.66 with a loss of -1.22% for the day. The stock had closed at $26.99 on the previous day. The total traded volume was 1,953,716 shares.
In a related news, The Securities and Exchange Commission has divulged that Coppock Ronald, (PRES, INTL SALES AND MARKETING) of Arris International Plc, had unloaded 9,000 shares at an average price of $27.82 in a transaction dated on July 28, 2016. The total value of the transaction was worth $250,380.