ITT Corporation (ITT) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 1,454,109 to 1,445,334 shares, with 2 days to go before the expiry. The short open interest has decreased by -0.6%, amounting to a reduction of -8,775 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 1.6% of the float of the company. The average daily volume of the stock is 758,458 shares. The short interest information was released on Wednesday Aug 24th after the market close.
ITT Corporation (NYSE:ITT): The stock opened at $36.08 on Wednesday but the bulls could not build on the opening and the stock topped out at $36.28 for the day. The stock traded down to $35.61 during the day, due to lack of any buying support eventually closed down at $35.67 with a loss of -1.16% for the day. The stock had closed at $36.09 on the previous day. The total traded volume was 316,445 shares.
In a related news, The Securities and Exchange Commission has divulged that Chicles Aris C, officer (See Remarks) of Itt Inc., had unloaded 90,778 shares at an average price of $35.61 in a transaction dated on May 31, 2016. The total value of the transaction was worth $3,232,605.
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Companys product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts. Motion Technologies manufactures brake components, shock absorbers and damping technologies for the automotive, truck and trailer, public bus and rail transportation markets. Interconnect Solutions manufactures and designs a range of engineered connector solutions that makes it possible to transfer signal and power between electronic devices. Control Technologies manufactures equipment, including actuation, valves, and noise and energy absorption components for the aerospace and defense, and industrial markets.