U.S. Bancorp (NYSE:USB) encountered a drop of 5.3% or -992,414 shares in the short positions. The number dropped from 18,796,995 on May 31,2016 to 17,804,581 on June 15,2016. The final interest is 1% of the floated stock. The days to cover figure of 3 can be arrived using the average daily exchange of 7,015,320 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
U.S. Bancorp (NYSE:USB): The stock opened at $40.22 on Friday but the bulls could not build on the opening and the stock topped out at $41.12 for the day. The stock traded down to $39.83 during the day, due to lack of any buying support eventually closed down at $39.86 with a loss of -5.61% for the day. The stock had closed at $42.23 on the previous day. The total traded volume was 13,335,733 shares.
The company shares have dropped -8.18% from its 1 Year high price. On Jul 16, 2015, the shares registered one year high at $46.26 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $41.90 and the 200 Day Moving Average price is recorded at $41.11.
U.S. Bancorp (NYSE:USB) has tumbled 3.04% during the past week and has dropped 7.19% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 1.43%. U.S. Bancorp (NYSE:USB) has underperformed the index by 4.39% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
U.S. Bancorp is a multi-state financial services holding company. The Company operates through its banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. The Company provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machines (ATM) processing, mortgage banking, insurance, brokerage and leasing. U.S. Bank National Association provides a range of products and services to individuals, businesses, institutional organizations, governmental entities and other financial institutions. Its commercial and consumer lending services are offered to customers within the Companys domestic markets, to domestic customers with foreign operations and to large national customers operating in specific industries targeted by the Company.