Nucor Corporation June 15th Short Interest Update

Nucor Corporation (NYSE:NUE) has shown a rise of 3.7% or 298,523 shares in the short positions. The bets have increased to 8,426,656 shares on June 15,2016 from 8,128,133 shares on May 31,2016. With respect to the floated shares, the shorts are 2.7%. The days to cover are calculated to be 3, using the standard per day volume of 2,476,226 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Nucor Corporation (NYSE:NUE): The stock opened at $48.71 on Friday but the bulls could not build on the opening and the stock topped out at $49.33 for the day. The stock traded down to $47.71 during the day, due to lack of any buying support eventually closed down at $47.87 with a loss of -5.21% for the day. The stock had closed at $50.50 on the previous day. The total traded volume was 4,073,883 shares.

The company shares have rallied 6.35% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $51.99 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $48.80 and the 200 Day Moving Average price is recorded at $44.15.

Nucor Corporation (NYSE:NUE) has tumbled 4.93% during the past week and has dropped 1.07% in the last 4 week period. The stocks have underperformed the S&P 500 by 3.35% during the past week but Nucor Corporation (NYSE:NUE) it has outperformed the index in 4 weeks by 1.92%.

Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Companys steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials. In the steel mills segment, Nucor produces and distributes sheet steel, plate steel, structural steel and bar steel. In the steel products segment, Nucor produces steel joists and joist girders, steel deck, fabricated concrete reinforcing steel, cold finished steel, steel fasteners, metal building systems, steel grating and expanded metal, and wire and wire mesh. In the raw materials segment, the Company produces DRI; brokers ferrous and nonferrous metals, pig iron, HBI and DRI; supplies ferro-alloys, and processes ferrous and nonferrous scrap metal.

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