Spirit Airlines (SAVE) : 3 days before expiry, shorts in Spirit Airlines (SAVE) have reduced from 4,958,763 on Jul 29, 2016, to 4,017,534 on August 15, 2016. On an average, 1,168,633 shares are traded on the exchange. The outstanding bearish positions are equal to 5.7% of the float. Short sellers have covered -941,229 shares, a reduction of -19%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Spirit Airlines (NASDAQ:SAVE): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $39.85 and $39.64 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $40.56. The buying momentum continued till the end and the stock did not give up its gains. It closed at $39.97, notching a gain of 0.18% for the day. The total traded volume was 703,854 . The stock had closed at $39.90 on the previous day.
In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Spirit Airlines, Inc., Elkins David G had purchased shares worth of $71,880 in a transaction dated on March 17, 2016. A total of 1,500 shares were purchased at a price of $47.92 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
Spirit Airlines, Inc. is an airline company. The Companys all-Airbus fleet operates more than 300 daily flights to 56 destinations in the United States, Caribbean and Latin America. Its ultra-low-cost carrier (ULCC) business model provides low base fares with a range of optional services. The Companys route network includes approximately 151 markets served by 56 airports throughout North America, Central America, South America and the Caribbean. The Company operates international services to Aruba, the Bahamas, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Peru and St. Maarten, as well as Puerto Rico and the United States Virgin Islands.