Short Interest Update on ITC Holdings (ITC)

ITC Holdings (ITC) : Traders are negative on ITC Holdings (ITC), as it has 0.9% of short positions outstanding compared to its float. The total shorts have reduced by -313,757 shares, which is a -18.8% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,1,665,881 to 1,352,124 shares. While the daily trading volume of the stock is 567,552, there are 2 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.

ITC Holdings (NYSE:ITC): The stock opened at $46.58 on Wednesday but the bulls could not build on the opening and the stock topped out at $46.64 for the day. The stock traded down to $46.36 during the day, due to lack of any buying support eventually closed down at $46.52 with a loss of -0.30% for the day. The stock had closed at $46.66 on the previous day. The total traded volume was 438,673 shares.


In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Itc Holdings Corp., Ernst Albert had purchased shares worth of $971 in a transaction dated on August 2, 2016. A total of 021 shares were purchased at a price of $46.24 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

ITC Holdings Corp. is an independent electricity transmission company in the United States. The Company operates, maintains and invests in transmission infrastructure. The Companys customers include investor-owned utilities, municipalities, cooperatives, power marketers and alternative energy suppliers. Its regional infrastructure includes four North Central Multi-Value Projects (MVPs) and the Thumb Loop Project. The Companys subsidiaries operations include asset planning; engineering, design and construction; maintenance, and real time operations. The Asset Planning group uses system models and load forecasts to develop its system expansion capital plans. The Engineering, Design and Construction group is engaged in the design, equipment specifications, maintenance plans and project engineering for capital, operation and maintenance work. The Company develops and tracks preventive maintenance plans. Its real time operations include system and local balancing authoring operations.

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