Penn National Gaming (NASDAQ:PENN) has seen a rise of 432,048 shares or 5.6% in the short interest. The remaining shorts are 10.9% of the total floated shares. The net short interest, as on June 15,2016, stood at 8,089,200 shares and the stocks days to cover will be 7 by factoring in the average per day volume of 1,086,705 shares. On May 31,2016, 7,657,152 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Penn National Gaming (NASDAQ:PENN): The stock opened at $13.76 on Friday but the bulls could not build on the opening and the stock topped out at $14.07 for the day. The stock traded down to $13.71 during the day, due to lack of any buying support eventually closed down at $13.95 with a loss of -2.04% for the day. The stock had closed at $14.24 on the previous day. The total traded volume was 4,181,292 shares.
The company shares have dropped -23.35% from its 1 Year high price. On Jul 23, 2015, the shares registered one year high at $20.23 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $15.08 and the 200 Day Moving Average price is recorded at $15.14.
Penn National Gaming (NASDAQ:PENN) has tumbled 4.39% during the past week and has dropped 7.86% 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 2.8%. Penn National Gaming (NASDAQ:PENN) has underperformed the index by 5.07% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Penn National Gaming, Inc. is an owner and manager of gaming and pari-mutuel properties. The Companys segments include the East/Midwest segment, the West segment and the Southern Plains segment. The East/Midwest segment properties include Hollywood Casino at Charles Town Races, Hollywood Casino at Penn National Race Course, Hollywood Casino Lawrenceburg, Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Gaming at Dayton Raceway, Hollywood Gaming at Mahoning Valley Race Course, Hollywood Casino Bangor and Casino Rama. The West segment properties include Zia Park Casino and the M Resort. The Southern Plains segment properties include Hollywood Casino Aurora, Hollywood Casino Joliet, Argosy Casino Alton, Hollywood Casino Gulf Coast, Argosy Casino Riverside, Hollywood Casino Tunica, Boomtown Biloxi, Hollywood Casino at Kansas Speedway and Hollywood Casino St. Louis. Tropicana Las Vegas Hotel and Casino, Inc. is a subsidiary of the Company.