Short Interest Update on Ellie Mae (ELLI)

Ellie Mae (ELLI) : 3 days before expiry, shorts in Ellie Mae (ELLI) have reduced from 2,147,872 on Jul 29, 2016, to 2,039,485 on August 15, 2016. On an average, 807,748 shares are traded on the exchange. The outstanding bearish positions are equal to 7% of the float. Short sellers have covered -108,387 shares, a reduction of -5%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.

Ellie Mae (NYSE:ELLI): The stock opened at $97.14 on Wednesday but the bulls could not build on the opening and the stock topped out at $97.33 for the day. The stock traded down to $95.44 during the day, due to lack of any buying support eventually closed down at $96.39 with a loss of -0.99% for the day. The stock had closed at $97.35 on the previous day. The total traded volume was 273,017 shares.


In a related news, The Securities and Exchange Commission has divulged that Hirsch Peter, officer (EVP, Technology & Operations) of Ellie Mae Inc, had unloaded 1,817 shares at an average price of $97.47 in a transaction dated on August 16, 2016. The total value of the transaction was worth $177,103.

Ellie Mae, Inc. (Ellie Mae) is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. The Companys Encompass mortgage management solution provides one system of record that allows banks, credit unions and mortgage lenders to originate and fund mortgages. The Encompass mortgage management solution handles functions involved in running the business of originating mortgages, including customer relationship management; loan processing; underwriting; preparation of application, disclosure and closing documents; funding and closing the loan for the borrower; compliance with regulatory and investor requirements, and overall enterprise management that provides one system of record. The Company delivers Encompass software in an on-demand Software-as-a-Service (SaaS). The Company also hosts the Ellie Mae Network.

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