Pinnacle West Capital Corporation (PNW) : Traders are increasing their bearish positions on the stock, as is visible by the 2% jump in the outstanding short positions; a total addition of 61,408 shares on the sell side. On Jul 29, 2016, the total short positions were 3,021,328 shares, which went up to 3,082,736 shares by the close of trading on August 15, 2016. It will take 5 days for the bears to roll over or cover. An average of 585,696 shares exchange hands daily. 2.8% of the float of the stock has been sold short by the bears. The short interest information was released on Wednesday Aug 24th after the market close.
Pinnacle West Capital Corporation (NYSE:PNW): The stock opened at $76.61 on Wednesday but the bulls could not build on the opening and the stock topped out at $76.82 for the day. The stock traded down to $76.11 during the day, due to lack of any buying support eventually closed down at $76.66 with a loss of -0.25% for the day. The stock had closed at $76.85 on the previous day. The total traded volume was 358,116 shares.
In a related news,The director of Pinnacle West Capital Corp, Cortese Denis A. sold 2,000 shares at $72.87 on May 6, 2016. The Insider selling transaction had a total value worth of $145,740. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Pinnacle West Capital Corporation is a holding company that operates primarily through its wholly owned subsidiaries is engaged in regulated retail and wholesale electricity businesses. The Companys operations primarily include electricity generation, transmission and distribution. The Companys subsidiaries include Arizona Public Service Company (APS), a vertically integrated electric utility that provides either retail or wholesale electric service to the State of Arizona, with the exceptions of about one-half of the Phoenix metropolitan area, the Tucson metropolitan area and Mohave County in northwestern Arizona; El Dorado Investment Company (El Dorado) and Bright Canyon Energy Corporation (BCE). APS provides electric service to approximately 1.2 million customers. APS has ownership interests in or leases the coal, nuclear, gas, oil and solar generating facilities.