Teekay Tankers Ltd. (TNK) : Traders are negative on Teekay Tankers Ltd. (TNK), as it has 6.8% of short positions outstanding compared to its float. The total shorts have reduced by -296,148 shares, which is a -3.5% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,8,440,255 to 8,144,107 shares. While the daily trading volume of the stock is 1,656,944, there are 5 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Teekay Tankers Ltd. (NYSE:TNK): The stock opened at $2.85 on Wednesday but the bulls could not build on the opening and the stock topped out at $2.90 for the day. The stock traded down to $2.77 during the day, due to lack of any buying support eventually closed down at $2.78 with a loss of -3.14% for the day. The stock had closed at $2.87 on the previous day. The total traded volume was 1,249,809 shares.
Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Companys business is to own crude oil and product tankers. The Company owns around 11 Aframax Tankers, three medium range product tankers, 10 Suezmax tankers and three long range 2 product tankers. The Companys chartered-in vessels include eight Aframax Tankers and four long range 2 product tankers. The Company also operates one 50% owned very large crude carrier (VLCC). The Companys operations are managed by Teekay Tankers Management Services Ltd., which provides the Company with commercial, technical, administrative and strategic services.