Reliance Steel & Aluminum Co. (RS) has 3,239,512 shares of shorts outstanding as on August 15, 2016, with 5 days left to cover or roll them over. On Jul 29, 2016, the open interest of short positions was 3,372,872 shares. The stock has a decent trading volume of 604,355 shares daily. The marginal decrease in the short positions is by -4%, which amounts to -133,360 shares. Short positions are 4.6% of the available float. The short interest information was released on Wednesday Aug 24th after the market close.
Reliance Steel & Aluminum Co. (NYSE:RS): The stock opened at $73.62 on Wednesday but the bulls could not build on the opening and the stock topped out at $73.75 for the day. The stock traded down to $72.27 during the day, due to lack of any buying support eventually closed down at $72.35 with a loss of -2.12% for the day. The stock had closed at $73.92 on the previous day. The total traded volume was 533,313 shares.
In a related news,The director officer (President and CEO) of Reliance Steel & Aluminum Co, Mollins Gregg J sold 3,000 shares at $75.59 on August 10, 2016. The Insider selling transaction had a total value worth of $226,770. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Reliance Steel & Aluminum Co. is a metals service center company in North America. The Company provides a variety of processing services and delivers products to fabricators, manufacturers and other end users. It has a network of more than 300 locations in 39 states in the United States and in 12 other countries, including Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom. It provides metals processing services and distributes a line of more than 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium and specialty steel products. It also provides toll processing of aluminum, carbon steel and stainless steel miscellaneous, including brass, copper and titanium, and offers processing services, which range from cutting, leveling or sawing to complete processes, such as machining or electropolishing.