Short Interest Update on Glu Mobile (GLUU)

Glu Mobile (GLUU) : Traders are negative on Glu Mobile (GLUU), as it has 16.7% of short positions outstanding compared to its float. The total shorts have reduced by -126,250 shares, which is a -0.8% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,16,920,231 to 16,793,981 shares. While the daily trading volume of the stock is 2,387,592, there are 7 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.

Glu Mobile (NASDAQ:GLUU): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $2.25 and $2.25 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $2.34. The buying momentum continued till the end and the stock did not give up its gains. It closed at $2.30, notching a gain of 1.32% for the day. The total traded volume was 2,192,044 . The stock had closed at $2.27 on the previous day.


In a related news, The Securities and Exchange Commission has divulged that Cannon Gregory J., officer (Vice President, Finance and IR) of Glu Mobile Inc, had unloaded 6,020 shares at an average price of $2.24 in a transaction dated on August 16, 2016. The total value of the transaction was worth $13,485.

Glu Mobile Inc. develops, publishes and markets a portfolio of games. The Company offers games to a cross section of users of smartphones and tablet devices who download and make purchases within its games through direct-to-consumer digital storefronts, such as the Apple App Store, Google Play Store and Amazon Appstore, among others. The Company creates games based on its own brands, including Blood & Glory, Contract Killer, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros and Heroes of Destiny. The Company also creates games based on third-party licensed brands, including Kim Kardashian: Hollywood, Robocop: The Official Game, and Hercules: The Official Game, as well as its own branded games that incorporate third-party licensed brands, properties and other content, such as Racing Rivals and Tap Sports: Baseball. It released around 16 free-to-play games. It has around eight global studios that create and develop its games.

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