Kansas City Southern (KSU) : 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 3,859,832 to 3,590,346 shares, with 4 days to go before the expiry. The short open interest has decreased by -7%, amounting to a reduction of -269,486 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 3.4% of the float of the company. The average daily volume of the stock is 868,596 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Kansas City Southern (NYSE:KSU): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $98.81 and $98.74 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $100.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $99.44, notching a gain of 0.40% for the day. The total traded volume was 961,255 . The stock had closed at $99.04 on the previous day.
In a related news, The officer (President & CEO), of Kansas City Southern, Ottensmeyer Patrick J had unloaded 5,000 shares at $95.62 per share in a transaction on August 4, 2016. The total value of transaction was $478,100. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Kansas City Southern (KCS) is a transportation holding company with domestic and international rail operations in North America that are focused on the north/south freight corridor connecting commercial and industrial markets in the central United States with industrial cities in Mexico. The Companys rail network includes The Kansas City Southern Railway Company (KCSR), which serves a ten-state region in the midwest and southeast regions of the United States and has the shortest north/south rail route between Kansas City, Missouri and several key ports along the Gulf of Mexico in Alabama, Louisiana, Mississippi and Texas; Kansas City Southern de Mexico, S.A. de C.V. (KCSM), which serves Mexicos principal industrial cities and three of its major seaports, and Mexrail, Inc. (Mexrail), which owns The Texas Mexican Railway Company (Tex-Mex), which connects the operations of KCSR with KCSM.