Short Interest Update on Orchid Island Capital (ORC)

Orchid Island Capital (ORC) : The traders have covered their outstanding shorts in Orchid Island Capital (ORC) to the tune of -200,882 shares, a change of -11.2%. As on Jul 29, 2016, the outstanding shorts on the stock were 1,787,106 shares, however, by August 15, 2016, the shorts had reduced to 1,586,224 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 7.5% of the free float of the stock. It takes 5 days to cover the outstanding short positions. The stock has an average daily volume of 344,645 shares. The short interest information was released on Wednesday Aug 24th after the market close.

Orchid Island Capital (NYSE:ORC): The stock opened at $10.96 on Wednesday but the bulls could not build on the opening and the stock topped out at $10.96 for the day. The stock traded down to $10.79 during the day, due to lack of any buying support eventually closed down at $10.81 with a loss of -1.28% for the day. The stock had closed at $10.95 on the previous day. The total traded volume was 870,030 shares.


In a related news, The Securities and Exchange Commission has divulged that Bitting W Coleman, 0 of Orchid Island Capital, Inc., had unloaded 2,165 shares at an average price of $10.91 in a transaction dated on August 1, 2016. The total value of the transaction was worth $23,620.

Orchid Island Capital, Inc. (Orchid) is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Companys business objective is to provide attractive risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions. The Companys portfolio consists of two categories of Agency RMBS: traditional pass-through Agency RMBS and structured Agency RMBS, such as collateralized mortgage obligations (CMOs), interest only securities (IOs), inverse interest only securities (IIOs) and principal only securities (POs), among other types of structured Agency RMBS. The Company is managed and advised by Bimini Advisors, LLC.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.