General Cable Corporation (BGC) : 10 days before expiry, shorts in General Cable Corporation (BGC) have reduced from 6,827,608 on Jul 29, 2016, to 6,789,628 on August 15, 2016. On an average, 704,566 shares are traded on the exchange. The outstanding bearish positions are equal to 14.3% of the float. Short sellers have covered -37,980 shares, a reduction of -0.6%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
General Cable Corporation (NYSE:BGC): The stock opened at $16.00 on Wednesday but the bulls could not build on the opening and the stock topped out at $16.18 for the day. The stock traded down to $15.66 during the day, due to lack of any buying support eventually closed down at $15.77 with a loss of -1.81% for the day. The stock had closed at $16.06 on the previous day. The total traded volume was 378,325 shares.
In a related news, Lawton Gregory E, director of General Cable Corp /De/, had purchased 900 shares on June 17, 2016. The total value of the transaction was $12,600. 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.
General Cable Corporation is engaged in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for use in the energy, industrial, construction, specialty and communications markets. The Company operates through four segments: North America, Europe, Latin America, and Africa/Asia Pacific. The Company additionally engages in the design, integration and installation on a turnkey basis for products, such as high and extra-high voltage terrestrial and submarine systems. The Companys segments develops, designs, manufactures, markets and distributes copper, aluminum, and fiber optic wire and cable products for use in the energy, industrial, construction, specialty and communications markets, and electric utility, electrical infrastructure, construction and communications industries. It offers five categories of products, such as electric utility, electrical infrastructure, communications, construction and rod mill.