Canadian National Railway Company (CNI) : The traders have covered their outstanding shorts in Canadian National Railway Company (CNI) to the tune of -1,082,826 shares, a change of -11.2%. As on Jul 29, 2016, the outstanding shorts on the stock were 9,679,400 shares, however, by August 15, 2016, the shorts had reduced to 8,596,574 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 1.1% of the free float of the stock. It takes 10 days to cover the outstanding short positions. The stock has an average daily volume of 829,093 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Canadian National Railway Company (NYSE:CNI): The stock opened at $64.95 on Wednesday but the bulls could not build on the opening and the stock topped out at $65.49 for the day. The stock traded down to $64.88 during the day, due to lack of any buying support eventually closed down at $64.96 with a loss of -0.31% for the day. The stock had closed at $65.16 on the previous day. The total traded volume was 501,825 shares.
Canadian National Railway Company (CN) is engaged in the rail and related transportation business. CNs network and connections to all Class I railroads provide its customers with access to all three North American Free Trade Agreement (NAFTA) nations. CN derives its freight revenue from seven commodity groups representing a portfolio of goods transported between a range of origins and destinations. The Companys network of approximately 20,000 route miles of track spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico, serving the ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans and Mobile (Alabama), and the metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth (Minnesota)/Superior (Wisconsin), Green Bay (Wisconsin), Minneapolis/St. Paul, Memphis, and Jackson (Mississippi), with connections to all points in North America.