Salesforce Short Interest Plummets 36.7% in July

Salesforce Inc., (NYSE:CRM) has seen a significant drop in short interest in July, according to MarketBeat. The company's short interest decreased by 36.7% from 46,465,690 shares on July 15th to 29,406,370 shares as of July 31st.

The days-to-cover ratio is currently at 2.2 days, based on an average daily trading volume of 13,243,191 shares. This indicates that it would take approximately two and a half days for all the shorted shares to be covered by buying or selling the stock.

Currently, 3.7% of the company's shares are short sold. Institutional investors have also been active in buying and selling Salesforce shares. For example, Brighton Jones LLC boosted its holdings in Salesforce by 13.7% in the fourth quarter, while Revolve Wealth Partners LLC increased its stake in the company by 12.6% during the same period.