Domtar Corporation (UFS) : The traders have covered their outstanding shorts in Domtar Corporation (UFS) to the tune of -40,016 shares, a change of -1.7%. As on Jul 29, 2016, the outstanding shorts on the stock were 2,331,334 shares, however, by August 15, 2016, the shorts had reduced to 2,291,318 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 3.7% of the free float of the stock. It takes 5 days to cover the outstanding short positions. The stock has an average daily volume of 416,978 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Domtar Corporation (NYSE:UFS): The stock opened at $37.75 on Wednesday but the bulls could not build on the opening and the stock topped out at $37.78 for the day. The stock traded down to $37.13 during the day, due to lack of any buying support eventually closed down at $37.41 with a loss of -0.82% for the day. The stock had closed at $37.72 on the previous day. The total traded volume was 316,254 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (President and CEO) of Domtar Corp, Williams John David had sold 21,977 shares worth of $827,434 in a transaction dated May 16, 2016. In this transaction, 21,977 shares were sold at $37.65 per share.
Domtar Corporation designs, manufactures, markets and distributes a range of fiber-based products, including communication papers, specialty and packaging papers and absorbent hygiene products. The Company operates in two business segments: Pulp and Paper and Personal Care. The Companys Pulp and Paper segment is engaged in the design, manufacturing, marketing and distribution of communication papers, specialty and packaging papers, as well as softwood, fluff and hardwood market pulp. The Companys Personal Care segment is involved in the manufacturing, marketing and distribution of absorbent hygiene products. The Company is an integrated marketer and manufacturer of uncoated freesheet paper in North America for a range of customers, including merchants, retail outlets, stationers, printers, publishers, converters and end-users. It is also a marketer and producer of a broad line of incontinence care products.