Short Interest Update on United Bankshares (UBSI)

United Bankshares (UBSI) has 8,659,003 shares of shorts outstanding as on August 15, 2016, with 41 days left to cover or roll them over. On Jul 29, 2016, the open interest of short positions was 8,852,927 shares. The stock has a decent trading volume of 211,501 shares daily. The marginal decrease in the short positions is by -2.2%, which amounts to -193,924 shares. Short positions are 11.8% of the available float. The short interest information was released on Wednesday Aug 24th after the market close.

United Bankshares (NASDAQ:UBSI): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $38.74 and $38.64 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $38.85. The buying momentum continued till the end and the stock did not give up its gains. It closed at $38.76, notching a gain of 0.21% for the day. The total traded volume was 539,561 . The stock had closed at $38.68 on the previous day.


In a related news, Converse Peter A, director of United Bankshares Inc/Wv, had purchased 045 shares on February 11, 2016. The total value of the transaction was $1,480. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.

United Bankshares, Inc. (United) is a bank holding company. The Company has two banking subsidiaries (the Banking Subsidiaries): United Bank (WV) and United Bank (VA). Uniteds Banking Subsidiaries offer a range of commercial and retail banking services and products. United also owns nonbank subsidiaries which engage in other community banking services such as asset management, real property title insurance, financial planning, and brokerage services. Included among the banking services offered are the acceptance of deposits in checking, savings, time and money market accounts; the making and servicing of personal, commercial, floor plan and student loans; and the making of construction and real estate loans. Also offered are individual retirement accounts, safe deposit boxes, wire transfers and other standard banking products and services. As part of its lending function, the Banking Subsidiaries offer credit card services.

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