Kate Spade & Company June 15th Short Interest Update

Kate Spade & Company (NYSE:KATE) reported a drop of 6.1% or 564,740 shares in its short interest. The short figure came in at 6.8% of the total floats. The average daily volume of 3,017,930 shares suggests that the days to cover 8,667,608 short positions, as on June 15,2016, will be 3. On May 31,2016, the short interest was 9,232,348 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Kate Spade & Company (NYSE:KATE): The stock opened at $20.34 on Friday but the bulls could not build on the opening and the stock topped out at $20.58 for the day. The stock traded down to $19.81 during the day, due to lack of any buying support eventually closed down at $20.01 with a loss of -6.71% for the day. The stock had closed at $21.45 on the previous day. The total traded volume was 2,884,579 shares.

The company shares have dropped -11.11% from its 1 Year high price. On Apr 28, 2016, the shares registered one year high at $26.46 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $21.65 and the 200 Day Moving Average price is recorded at $20.89.

Kate Spade & Company (NYSE:KATE) has tumbled 3.29% during the past week and has dropped 9.82% 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 1.68%. Kate Spade & Company (NYSE:KATE) has underperformed the index by 7.1% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Kate Spade & Company is engaged in the design and marketing of a range of accessories and apparel. The Company operates through three segments: KATE SPADE North America, KATE SPADE International and Adelington Design Group. KATE SPADE North America segment consists of the Companys kate spade new york, KATE SPADE SATURDAY and JACK SPADE brands in North America. KATE SPADE International segment consists of the Companys kate spade new york, KATE SPADE SATURDAY and JACK SPADE brands in International markets. Adelington Design Group segment consists of exclusive arrangements to supply jewelry for the LIZ CLAIBORNE and MONET brands; the wholesale apparel and wholesale non-apparel operations of the licensed LIZWEAR brand and other brands, and the licensed LIZ CLAIBORNE NEW YORK brand. The Company operates specialty retail stores, outlet stores and concession stores.

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