Weâ€™re seeing continued short covering today in Charles Schwab CorpÂ (SCHW), over 500k of new buys to cover this morning.
SCHW short interest is $686.7 million; 15.14 million shares shorted; 1.26% of float; 0.30% stock borrow fee.
SCHW shares shorted are down 1.92 million shares in 2019, a decrease of -11.25% Â as its stock price increased by 9.20%.
And down 993k in April, a decrease of 6.15%, as its stock price increased by 6.06%
SCHW reported first quarter earnings for their first quarter today, beating on EPS and net revenues.
SCHW is trading down less than 1% in mid-morning trading, but if short sellers continue to trim their positions we can expect more buying pressure in the stock.
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Managing Director Predictive Analytics, S3 Partners, LLC
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