Red Hat (RHT) : The bears are holding on to their shorts in Accenture Plc with 5 more days remaining for them to cover their positions. The bearish positions have increased from 5,143,758 on Jul 29, 2016, to 5,612,964, on August 15, 2016. Daily, 1,239,936 shares are traded, which shows the high interest of the traders in the stock. The net addition of short open interest is 469,206 shares, which is an increase of just 9.1%. The total short interest of 3.1% of the float indicates that there arent many bears on this stock at the current prices. The short interest information was released on Wednesday Aug 24th after the market close.
Red Hat (NYSE:RHT): The stock opened at $74.71 on Wednesday but the bulls could not build on the opening and the stock topped out at $75.04 for the day. The stock traded down to $74.01 during the day, due to lack of any buying support eventually closed down at $74.72 with a loss of -0.23% for the day. The stock had closed at $74.89 on the previous day. The total traded volume was 1,179,370 shares.
In a related news, Cunningham Michael, officer (EVP, General Counsel) of Red Hat Inc, unloaded 10,000 shares at an average price of $75 on July 26, 2016. The total amount of the transaction was worth $750,000, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Red Hat, Inc. is a provider of open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, middleware, storage and cloud technologies. The Company employs an open source development model. The open source development model allows it to use the collective input, resources and knowledge of a global community of contributors who can collaborate to develop, maintain and enhance software because the human-readable source code for that software is publicly available and licenses permit modification. The Company distributes its software offerings under open source licenses that permit access to the softwares human-readable source code. The Company provides its software offerings primarily under annual or multi-year subscriptions as well as on-demand through cloud service providers.