Short Interest Update on SBA Communications Corporation (SBAC)

SBA Communications Corporation (SBAC) : The short interest in SBA Communications Corporation (SBAC) has changed with an increase of 293,713 shares and the open interest is 11.1%. From 2,652,173 short positions on Jul 29, 2016, the shorts increased to 2,945,886 shares by August 15, 2016. There are 4 more days left for the expiry and the daily trading volume of the stock is 738,866 shares. The total interest of shorts is 2.4% of the shares available to the public. The short interest information was released on Wednesday Aug 24th after the market close.

SBA Communications Corporation (NASDAQ:SBAC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $113.29 and $113.03 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $114.71. The buying momentum continued till the end and the stock did not give up its gains. It closed at $113.29, notching a gain of 0.29% for the day. The total traded volume was 643,164 . The stock had closed at $112.96 on the previous day.


In a related news, The Securities and Exchange Commission has divulged that Silberstein Jason V, officer (EVP – Site Leasing) of Sba Communications Corp, had unloaded 22,192 shares at an average price of $115.68 in a transaction dated on August 9, 2016. The total value of the transaction was worth $2,567,171.

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company operated through two segments, namely site leasing and site development. The Companys primary business line is its site leasing business. In its site leasing business, the Company leases antenna space to wireless service providers on towers that it owns or operates, and manage rooftop and tower sites for property owners under various contractual arrangements. It also managed or leased approximately 5,000 actual or potential towers. Its other business line is its site development business, through which it assists wireless service providers in developing and maintaining their own wireless service networks. The Companys principal operations are in the United States and its territories. In addition, it owns and operates towers in Canada, Central America, and South America.

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