Trex Company (TREX) : The traders have covered their outstanding shorts in Trex Company (TREX) to the tune of -523,909 shares, a change of -20.2%. As on Jul 29, 2016, the outstanding shorts on the stock were 2,594,920 shares, however, by August 15, 2016, the shorts had reduced to 2,071,011 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 7.1% of the free float of the stock. It takes 4 days to cover the outstanding short positions. The stock has an average daily volume of 521,601 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Trex Company (NYSE:TREX): The stock opened at $61.77 on Wednesday but the bulls could not build on the opening and the stock topped out at $62.15 for the day. The stock traded down to $61.03 during the day, due to lack of any buying support eventually closed down at $61.33 with a loss of -1.14% for the day. The stock had closed at $62.04 on the previous day. The total traded volume was 129,930 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Trex Co Inc, Merlotti Frank H Jr had sold 1,787 shares worth of $107,202 in a transaction dated August 16, 2016. In this transaction, 1,787 shares were sold at $59.99 per share.
Trex Company, Inc. is a manufacturer of wood-alternative decking and railing products. The Company markets its products under the brand name Trex. The Company offers a range of products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories. The Companys decking products include Trex Transcend, Trex Enhance, and Trex Select. The Companys railing products include Trex Transcend Railing, Trex Select Railing, and Trex Reveal aluminum railing. The Company offers porch product, Trex Transcend Porch Flooring and Railing System. Trex Elevations is the Companys steel deck framing system. The Company offers fencing product, Trex Seclusions. The Company offers outdoor lighting systems, Trex DeckLighting and Trex Landscape Lighting. TrexTrim is the Companys cellular PVC outdoor trim product. The Company offers Trex Hideaway, which is a hidden fastening system for specially grooved boards.