LPL Financial Holdings (NASDAQ:LPLA), According to the latest information the short interest in LPL Financial Holdings Inc. plummeted by 2.4% or 336,564 shares. The final shorts are 17.3% of the total floated shares. The positions dropped from 13,775,373 shares on May 31,2016 to 13,438,809 on June 15,2016. According to the per-day average trading of 597,094 shares, the days to cover are 23. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
LPL Financial Holdings (NASDAQ:LPLA): The stock opened at $23.53 on Friday but the bulls could not build on the opening and the stock topped out at $24.04 for the day. The stock traded down to $22.56 during the day, due to lack of any buying support eventually closed down at $22.96 with a loss of -10.97% for the day. The stock had closed at $25.79 on the previous day. The total traded volume was 2,698,048 shares.
The company shares have dropped -49.97% from its 1 Year high price. On Aug 4, 2015, the shares registered one year high at $48.18 and the one year low was seen on Feb 12, 2016. The 50-Day Moving Average price is $25.35 and the 200 Day Moving Average price is recorded at $28.24.
LPL Financial Holdings (NASDAQ:LPLA) has tumbled 5.48% during the past week and has dropped 18.67% 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 3.91%. LPL Financial Holdings (NASDAQ:LPLA) has underperformed the index by 16.21% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
LPL Financial Holdings Inc. is an independent broker-dealer, a custodian for registered investment advisors (RIAs) and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at around 700 financial institutions, enabling them to provide their retail investors with objective financial advice. It also supports approximately 4,400 financial advisors who are affiliated and licensed with insurance companies through customized clearing services, advisory platforms, and technology solutions. It provides its advisors with the front-office, middle-office, and back-office support. The Company provides its technology and service to advisors through a technology platform that is server-based and Web-accessible. Its subsidiaries include LPL Financial LLC, The Private Trust Company, N.A., Independent Advisers Group Corporation and LPL Insurance Associates, Inc.