Celanese Corporation (CE) : The traders have covered their outstanding shorts in Celanese Corporation (CE) to the tune of -95,118 shares, a change of -7.2%. As on Jul 29, 2016, the outstanding shorts on the stock were 1,328,167 shares, however, by August 15, 2016, the shorts had reduced to 1,233,049 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 0.9% of the free float of the stock. It takes 1 days to cover the outstanding short positions. The stock has an average daily volume of 971,221 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Celanese Corporation (NYSE:CE): The stock opened at $66.09 on Wednesday but the bulls could not build on the opening and the stock topped out at $66.56 for the day. The stock traded down to $65.95 during the day, due to lack of any buying support eventually closed down at $65.98 with a loss of -0.50% for the day. The stock had closed at $66.31 on the previous day. The total traded volume was 805,468 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Celanese Corp, Hoffmeister David F had sold 8,300 shares worth of $531,615 in a transaction dated March 16, 2016. In this transaction, 8,300 shares were sold at $64.05 per share.
Celanese Corporation is a technology and specialty materials company. The Companys business involves processing chemical raw materials, such as methanol, carbon monoxide and ethylene, and natural products, including wood pulp into chemicals, thermoplastic polymers and other chemical-based products. It has four business segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. The Advanced Engineering segment products include polyoxymethylene, ultra-high molecular weight polyethylene, polybutylene terephthalate, and liquid crystal polymers, among others. Consumer Specialties products include acetate tow, acetate flakes, acetate film and high intensity sweeteners, among others. Industrial Specialties products include conventional emulsions, vinyl acetate ethylene emulsions and ethylene vinyl acetate, among others. Acetyl Intermediates include acetic acid, vinyl acetate monomer, acetic anhydride and acetaldehyde, among others.