Skyline Medical Inc. (NASDAQ:SKLN) Closed Above Its 50 Day Moving Average

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Shares are trading at $1.60 slightly over $1.50, the 50 day moving average and slightly below the 200 day moving average of $1.65. The 50 day moving average was up by +6.659% whereas the 200 day average was down by -3.322%. Trading volume for Skyline Medical Inc. was 965 on Tuesday. Overall, volume was down 99.30% under the stocks normal daily volume.

Investors are a little more bullish on Skyline Medical Inc. of late looking at the downtick in short interest. The stock experienced a fall in short interest from September 15, 2017 to September 29, 2017 of -19.52%. Short interest decreased from 920,602 to 740,922 over that timeframe. With short interest at 740,922 and short average daily volume at 189,262, days to cover is 4.0 and the percentage of shorted shares was 0.12% on September 29.

Here are a few substantial investment firms who have updated their positions. Citadel Advisors LLC bolstered its holdings by buying 2,035 shares an increase of 6.6% from 03/31/2016 to 06/30/2017. Citadel Advisors LLC claims 32,923 shares worth $48,000. The value of the position overall is up by 860.0%.

Skyline Medical Inc., launched on April 23, 2002, is a medical device company that develops and manufactures The STREAMWAY System, a solution for the collection and disposal of infectious fluids that result from surgical procedures and post-operative care. The Company distributes these products to hospitals, surgical centers and other medical facilities where bodily and irrigation fluids produced during surgical procedures must be contained, measured, documented and disposed. The Company also manufactures and sells two disposable products required for system operation: a bifurcated single procedure filter and tissue trap, and a single use bottle of cleaning solution. Both items are used on a single procedure basis..