SBA Communications Corporation June 15th Short Interest Update

SBA Communications Corporation (NASDAQ:SBAC) encountered a drop of 31.1% or -1,434,649 shares in the short positions. The number dropped from 4,609,320 on May 31,2016 to 3,174,671 on June 15,2016. The final interest is 2.6% of the floated stock. The days to cover figure of 4 can be arrived using the average daily exchange of 812,414 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

SBA Communications Corporation (NASDAQ:SBAC): The stock opened at $102.59 on Friday but the bulls could not build on the opening and the stock topped out at $105.84 for the day. The stock traded down to $102.34 during the day, due to lack of any buying support eventually closed down at $103.31 with a loss of -3.68% for the day. The stock had closed at $107.26 on the previous day. The total traded volume was 2,778,217 shares.

The company shares have dropped -10.65% from its 1 Year high price. On Aug 18, 2015, the shares registered one year high at $128.47 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $100.79 and the 200 Day Moving Average price is recorded at $98.99.

SBA Communications Corporation (NASDAQ:SBAC) has climbed 3.62% in the past week and advanced 4.51% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 5.34% and the outperformance has advanced to 7.67% for the last 4 weeks period.

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company operated through two segments, namely site leasing and site development. The Companys primary business line is its site leasing business. In its site leasing business, the Company leases antenna space to wireless service providers on towers that it owns or operates, and manage rooftop and tower sites for property owners under various contractual arrangements. It also managed or leased approximately 5,000 actual or potential towers. Its other business line is its site development business, through which it assists wireless service providers in developing and maintaining their own wireless service networks. The Companys principal operations are in the United States and its territories. In addition, it owns and operates towers in Canada, Central America, and South America.

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