Traders are feeling more bullish on shares of Alaska Communications Systems G of late if you take note of the fall in short interest. The stock had a fall in short interest of -22.09% between September 29, 2017 and October 13, 2017. Short shares fell from 74,009 to 57,660 over that timeframe. Days to cover decreased from 1.0 to 0.0 and the percentage of shorted shares is 0.00% as of October 13.
Here are a few substantial investment firms who have updated their positions. As of the end of the quarter Kcg Holdings, Inc. had bought 10,917 shares growing its holdings by 37.1%. The value in dollars increased from $54,000 to $89,000 a change of 64.8% for the reporting period. As of quarter end Ubs Group Ag had disposed of a total of 1,616 shares trimming its position 45.6%. The value of the total investment in Alaska Communications Systems G went from $7,000 to $4,000 a change of $3,000 quarter over quarter.
Acadian Asset Management LLC added to its stake by buying 92,979 shares an increase of 7.7%. Acadian Asset Management LLC controls 1,294,116 shares worth $2,938,000. The value of the position overall is up by 11.2%. As of quarter end Simplex Trading, LLC had acquired 22,362 shares growing its stake by 77.0%. The value of the investment in Alaska Communications Systems G went from $63,000 to $116,000 increasing 84.1% quarter to quarter.
The company is so far trading up since yesterday’s close of $2.44. Company shares last traded at $2.44 slightly over $2.29, the stock’s 50 day moving average and a bit higher than the 200 day moving average of $2.24. The 50 day moving average was up $0.15 whereas the 200 day moving average was up $0.20 or +8.88%.
Alaska Communications Systems Group, Inc., launched on October 13, 1998, is a fiber broadband and managed information technology (IT) services provider. The Company is focused primarily on business and wholesale customers in and out of Alaska. The Company also provides telecommunication services to consumers throughout the state. The Business’s facilities-based communications network extends across Alaska and connects to the contiguous states through its undersea fiber optic cable systems and its usage rights on an undersea system..Advertisement