Steel Dynamics June 15th Short Interest Update

Steel Dynamics (NASDAQ:STLD) has seen a rise of 63,436 shares or 0.6% in the short interest. The remaining shorts are 4.6% of the total floated shares. The net short interest, as on June 15,2016, stood at 10,644,610 shares and the stocks days to cover will be 3 by factoring in the average per day volume of 3,438,110 shares. On May 31,2016, 10,581,174 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Steel Dynamics (NASDAQ:STLD): The stock opened at $24.45 on Friday but the bulls could not build on the opening and the stock topped out at $24.92 for the day. The stock traded down to $23.80 during the day, due to lack of any buying support eventually closed down at $24.11 with a loss of -5.67% for the day. The stock had closed at $25.56 on the previous day. The total traded volume was 7,247,475 shares.

The company shares have rallied 12.87% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $26.99 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $24.85 and the 200 Day Moving Average price is recorded at $21.12.

Steel Dynamics (NASDAQ:STLD) has tumbled 5.45% during the past week and has dropped 2.19% in the last 4 week period. The stocks have underperformed the S&P 500 by 3.88% during the past week but Steel Dynamics (NASDAQ:STLD) it has outperformed the index in 4 weeks by 0.77%.

Steel Dynamics, Inc. (SDI) is a steel producing and a metal recycling company. The Company operates in three segments: steel operations, metals recycling and ferrous resources operations, and steel fabrication operations. The Company offers hot roll, cold roll, galvanized, galvanneal, Galvalume, Galfan, and painted sheet steel; a range of structural steel beams and rails; engineered steel of various sizes and chemistries; and various merchant-bar products, rounds, angles, flats and channels. The Company also offers steel finishing and fabrication services. In the metals recycling operations of its metals recycling and ferrous resources segment, its products include an array of both ferrous and non-ferrous scrap processing, scrap management, transportation, and brokerage products and services. Its steel fabrication segment produces steel joists and steel decking materials.

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