Third Point Reinsurance Ltd. June 15th Short Interest Update

Third Point Reinsurance Ltd. (NYSE:TPRE) reported a drop of 0.3% or 12,479 shares in its short interest. The short figure came in at 7.5% of the total floats. The average daily volume of 263,556 shares suggests that the days to cover 4,073,782 short positions, as on June 15,2016, will be 15. On May 31,2016, the short interest was 4,086,261 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Third Point Reinsurance Ltd. (NYSE:TPRE): The stock opened at $11.13 on Friday but the bulls could not build on the opening and the stock topped out at $11.58 for the day. The stock traded down to $11.13 during the day, due to lack of any buying support eventually closed down at $11.51 with a loss of -1.20% for the day. The stock had closed at $11.65 on the previous day. The total traded volume was 2,430,771 shares.

The company shares have dropped -22.12% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $15.27 and the one year low was seen on Feb 26, 2016. The 50-Day Moving Average price is $11.46 and the 200 Day Moving Average price is recorded at $11.62.

Stocks of Third Point Reinsurance Ltd. (NYSE:TPRE) rallied by 3.88% during the past week but lost 0.52% on a 4-week basis. In the past week, the company has outperformed the S&P 500 by 5.6% and the outperformance has advanced to 2.49% for the last 4 weeks period.

Third Point Reinsurance Ltd. is a holding company. Through the Companys reinsurance subsidiaries, it provides property and casualty reinsurance coverage to insurance and reinsurance companies. The Company operates through two segments: Property and Casualty Reinsurance, and Catastrophe Risk Management. The Property and Casualty Reinsurance segment provides reinsurance products to insurance and reinsurance companies, government entities, and other risk bearing vehicles. The Catastrophe Risk Management segment is engaged in the underwriting of property catastrophe exposures. The Companys corporate function includes its investment results and certain general and administrative expenses related to corporate activities. The Companys investable assets are managed by its investment manager, Third Point LLC.

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