QLogic Corporation June 15th Short Interest Update

The short interest in QLogic Corporation (NASDAQ:QLGC) has declined from 1,809,677 on May 31,2016 to 1,505,907 on June 15,2016. The change was measured at 303,770 shares or 16.8%. The leftover shorts were 1.8% of the floated shares. The days to cover are 3, given the average daily volume of 517,630 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

QLogic Corporation (NASDAQ:QLGC): The stock opened at $14.60 on Friday but the bulls could not build on the opening and the stock topped out at $14.77 for the day. The stock traded down to $14.58 during the day, due to lack of any buying support eventually closed down at $14.65 with a loss of -1.48% for the day. The stock had closed at $14.87 on the previous day. The total traded volume was 3,217,682 shares.

The company shares have rallied 2.09% from its 1 Year high price. On Jun 16, 2016, the shares registered one year high at $15.00 and the one year low was seen on Jul 31, 2015. The 50-Day Moving Average price is $13.79 and the 200 Day Moving Average price is recorded at $12.90.

QLogic Corporation (NASDAQ:QLGC) has tumbled 1.35% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 6.16% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 0.29% and the outperformance has advanced to 9.37% for the last 4 weeks period.

QLogic Corporation (QLogic) designs and supplies server and storage networking connectivity products that provide and manage computer data communication. These products facilitate the transfer of data and enable resource sharing between servers, networks and storage. The Companys products are used in enterprise, managed service provider, consumer Web, and cloud service provider data centers, along with other environments dependent on data networking. It offers products in two categories: Advanced Connectivity Platforms and Legacy Connectivity Products. The advanced Connectivity Platforms consist primarily of adapters and application-specific integrated circuits (ASICs) for server and storage connectivity applications. The legacy Connectivity Products consist primarily of Fiber Channel switch products. The Companys products are based primarily on Fiber Channel and Ethernet technologies and are used in connection with storage networks, local area networks, and converged networks.

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