Twitter, Inc. (TWTR) shares are trading higher by more than 1% to $51.88 in late trading, following a Fortune article that said the company, in response to heavy criticism from CNBC’s Jim Cramer and others, has ended the use of its 10b5-1 stock sale program whereby top executives had been selling stock at regular intervals. The publication adds that it’s unclear if Twitter ended the plans or simply didn’t renew them. Regardless, Fortune’s multiple sources say they are no longer in effect for the company’s senior management. Approximately 8.54 million TWTR shares have already changed hands, compared to the stock’s average daily volume of 17.58 million shares.
TWTR recently gained $0.59 to $51.91. The name has a total of 647.84 million shares outstanding with 23.98% held by insiders and 51.50% held by institutions. The stock’s short interest currently stands at 5.88%, bringing the total number of shares sold short to 28.73 million.