Short interest decreased in most of the following stocks, except Apple, for the May 31 settlement date.
As of May 31, 2016 the short interest for social networking giant Facebook, Inc. (FB) totaled 23.98 million shares, as compared to 25.2 million shares since May 13, a decline of 5%.
Facebook has a beta of 0.84. In the past 52 weeks, shares of the Menlo Park, California-based company have traded between a low of $72.00 and a high of $121.08 and are now at $113.79.
Shares are up 36.32% year-over-year and 8% year-to-date.
Recent short interest data for the 5/31/2016 settlement date shows a decrease in short interest for shares of Twitter, Inc. (TWTR). As of May 31, the short interest for the social media site totaled 71.30 million shares, as compared to 77.35 shares since May 13, a plunge of nearly 8%.
TWTR closed at $16.10 on Friday, and shares were up 1.74% at $16.38 in early morning trading on Monday.
Yelp Inc. (YELP) saw its short interest decrease by almost 12% to 8.65 million shares. The previous reading was 9.77 million.
Yelp has a beta of 1.22. In early trading, the name rose 5.09% to $28.29, following a Deutsche Bank (DB) upgrade to ‘Buy’ from ‘Hold’. The investment bank also increased its price target on the stock to $33 from $26, citing “stabilized salesforce productivity, more confidence in management, and improvements in ad units and systems bolstering our long-term outlook.”
In the past 52 weeks, shares of San Francisco, California-based Yelp have traded between a low of $14.53 and a high of $46.40.
Recent short interest data for the settlement date shows a decrease in short interest for shares of LinkedIn Corporation (LNKD). As of May 31, short interest for the online professional network operator totaled 3.36 million shares, as compared to 4.02 million shares since May 13, a decline of 16.4%.
Shares of LinkedIn have lost nearly 16 percent year-to-date.
Apple Inc. (AAPL) short interest for the 5/31/2016 settlement date showed an increase. As of May 31, the short interest for the tech giant totaled 99.7 million shares from the previous level of 55.7 million, a jump of 79%.
In other Apple news this morning, Bloomberg reports Cupertino may be closer to opening stores in India after the government announced it has loosened policies that require retailers to source at least 30% of their components locally before they can set up shop.
Separately, UBS’ Steven Milunovich maintained this morning his ‘Buy’ rating and $115 price target on Apple shares.
Apple Inc. recently traded at $96.25, a gain of $0.92 over Friday’s closing price. The name has a current market capitalization of $527.23 billion.
As for passive income investors, the company pays shareholders $2.28 per share annually in dividends, yielding 2.39%.