The short interest in Comerica Incorporated (NYSE:CMA) has declined from 7,300,868 on May 31,2016 to 5,114,861 on June 15,2016. The change was measured at 2,186,007 shares or 29.9%. The leftover shorts were 2.9% of the floated shares. The days to cover are 2, given the average daily volume of 2,328,188 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Comerica Incorporated (NYSE:CMA): The stock opened at $40.98 on Friday but the bulls could not build on the opening and the stock topped out at $42.09 for the day. The stock traded down to $40.01 during the day, due to lack of any buying support eventually closed down at $40.02 with a loss of -10.03% for the day. The stock had closed at $44.48 on the previous day. The total traded volume was 4,254,337 shares.
The company shares have dropped -21.81% from its 1 Year high price. On Jul 1, 2015, the shares registered one year high at $52.93 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $44.19 and the 200 Day Moving Average price is recorded at $39.75.
Comerica Incorporated (NYSE:CMA) has tumbled 5.19% during the past week and has dropped 14.85% 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 3.62%. Comerica Incorporated (NYSE:CMA) has underperformed the index by 12.28% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Comerica Incorporated is a financial services company. The Companys principal activity is lending to and accepting deposits from businesses and individuals. It operates in three business segments: the Business Bank, the Retail Bank and Wealth Management. In addition, it also operates in the Finance segment. The Business Bank segment offers commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services and loan syndication services. The Retail Bank segment offers deposit accounts, installment loans, credit cards, student loans, home equity lines of credit and residential mortgage loans. The Wealth Management segment offers fiduciary services, private banking, retirement services, investment management and advisory services, investment banking and brokerage services. The Finance segment includes its securities portfolio, and asset and liability management activities.