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Analyst Favorites With Strong Buyback Activity: CIT Group Ranks As a Top Pick
Wednesday, February 21, 2:21 PM ET, by Market News Video Staff

A study of analyst recommendations at the major brokerages shows that CIT Group Inc (CIT) ...

First Week of October 19th Options Trading For CIT Group (CIT)
Thursday, February 22, 10:55 AM ET, by Market News Video Staff

Investors in CIT Group Inc (CIT) saw new options become available this week, for the ...

KRE, FITB, BBT, CIT: ETF Outflow Alert
Tuesday, March 27, 11:02 AM ET, by Market News Video Staff

Symbols mentioned in this story: KRE, FITB, BBT, CIT Exchange traded funds (ETFs) trade just ...

Noteworthy ETF Outflows: KRE, TCBI, CIT, CMA
Friday, April 6, 10:46 AM ET, by Market News Video Staff

Symbols mentioned in this story: KRE, TCBI, CIT, CMA Exchange traded funds (ETFs) trade just ...

First Week of CIT June 15th Options Trading
Tuesday, April 24, 11:16 AM ET, by Market News Video Staff

Investors in CIT Group Inc (CIT) saw new options begin trading this week, for the ...

CIT Group Stock Sees Short Interest Fall 20.6%

By Market News Video Staff, Thursday, December 28, 12:54 PM ET
Play Video: What Short Interest Means

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The most recent short interest data has been released for the 12/15/2017 settlement date, which shows a 1,622,632 share decrease in total short interest for CIT Group Inc (NYSE:CIT), to 6,256,874, a decrease of 20.59% since 11/30/2017. Total short interest is just one way to look at short data; another metric that we here at Dividend Channel find particularly useful is the "days to cover" metric because it considers both the total shares short and the average daily volume of shares traded. The number of shares short is then compared to the average daily volume, in order to calculate the total number of trading days (at the average volume) it would take to close out all of the open short positions if every share traded represented a short position being closed. Average daily volume for CIT at the 12/15/2017 settlement increased to 1,220,611, as compared to 992,203 at the 11/30/2017 report. That brought "days to cover" down to 5.13, a 35.45% decrease from the 7.94 days to cover calculated at the previous short interest data release.

The below chart shows the historical "days to cover" for CIT at previous short interest release dates:

A decreased "days to cover" value could indicate that short sellers are no longer expecting the same decline in stock price they once were, or it could also indicate a long bet elsewhere was closed where CIT had been shorted as a hedge.

The chart below shows the one year performance of CIT shares, versus its 200 day moving average. Looking at this chart, CIT's low point in its 52 week range is $39.48 per share, with $51.73 as the 52 week high point that compares with a last trade of $49.48.

CIT Group Inc Chart

According to the ETF Finder at ETF Channel, CIT makes up 2.35% of the SPDR S&P Regional Banking ETF (KRE) which is up by about 0.2% on the day Thursday.

See what other ETFs contain one
See what other stocks are held by KRE

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CIT Group Stock Sees Short Interest Fall 20.6% | Market News Video | Copyright © 2008 - 2018, All Rights Reserved

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