SEI Investments Company (SEIC) : 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 3,534,522 to 3,309,314 shares, with 7 days to go before the expiry. The short open interest has decreased by -6.4%, amounting to a reduction of -225,208 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 2.4% of the float of the company. The average daily volume of the stock is 484,692 shares. The short interest information was released on Wednesday Aug 24th after the market close.
SEI Investments Company (NASDAQ:SEIC): The stock opened at $46.28 on Wednesday but the bulls could not build on the opening and the stock topped out at $46.69 for the day. The stock traded down to $45.94 during the day, due to lack of any buying support eventually closed down at $46.04 with a loss of -0.73% for the day. The stock had closed at $46.38 on the previous day. The total traded volume was 349,783 shares.
In a related news,The director of Sei Investments Co, Blumenstein Sarah sold 16,500 shares at $49.89 on June 10, 2016. The Insider selling transaction had a total value worth of $823,185. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
SEI Investments Company is a provider of investment processing, investment management and investment operations solutions. The Company enables corporations, financial institutions, financial advisors and ultra-high-net-worth families create and manage wealth by providing investment and investment-business solutions. The Company operates in five segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers and Investments in New Businesses. The Companys investment management business solutions include investment processing outsourcing solutions for providers of institutional and private-client wealth management services, including banks, trust companies, independent wealth advisers and other financial services firms; investment management solutions for institutional investors, and individual investors and investment operations outsourcing solutions for investment management firms, banks and investment companies.