Short Interest Update on Simon Property Group (SPG)

Simon Property Group (SPG) : The traders have covered their outstanding shorts in Simon Property Group (SPG) to the tune of -230,619 shares, a change of -3.9%. As on Jul 29, 2016, the outstanding shorts on the stock were 5,842,350 shares, however, by August 15, 2016, the shorts had reduced to 5,611,731 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 1.8% of the free float of the stock. It takes 4 days to cover the outstanding short positions. The stock has an average daily volume of 1,268,698 shares. The short interest information was released on Wednesday Aug 24th after the market close.

Simon Property Group (NYSE:SPG): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $212.27 and $211.12 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $214.66. The buying momentum continued till the end and the stock did not give up its gains. It closed at $214.24, notching a gain of 1.07% for the day. The total traded volume was 1,371,112 . The stock had closed at $211.97 on the previous day.


In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Simon Property Group Inc /De/, Hubbard Allan B, had purchased 136 shares in a transaction dated on April 28, 2016. The transaction was executed at $204.92 per share with total amount equaling $27,869.

Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P. (Operating Partnership), is the Companys majority-owned partnership subsidiary that owns all of its real estate properties and other assets. The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. As of December 31, 2014, the Company owned or held an interest in 207 properties in the United States, which consisted of 109 malls, 68 Premium Outlets, 13 Mills, three community centers, and 14 other retail properties in 37 states and Puerto Rico. As of December 31, 2014, the Company had ownership interests in nine Premium Outlets in Japan, three Premium Outlets in South Korea, two Premium Outlets in Canada, one Premium Outlet in Mexico and one Premium Outlet in Malaysia. As of December 31, 2014, the Company had non-controlling ownership interests in five outlet properties in Europe.

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.