U.S. EQUITY FLOAT
Companies are among the biggest players in the U.S. stock market because they actively control the number of shares available for investors to buy.
TrimTabs tracks both announced corporate actions that affect the float of shares as well as actual float change at the company level.
Announced Corporate Actions
We collect daily data on cash takeovers, stock buybacks, equity issuance, and insider trading.
We estimate the change in the float of shares for the entire U.S. stock market based on announced corporate actions as follows:
Estimated Change in Float = New Offerings + Net Insider Selling – 2/3 New Cash Takeovers – 1/3 Completed Cash Takeovers – New Stock Buybacks
Increases in the float are bearish. All else being equal, more shares translate into lower stock prices. Conversely, decreases in the float are bullish. All else being equal, fewer shares translate into higher stock prices.
We calculate the number of new shares U.S. companies sell on a daily basis based on data from Dealogic.
We track insider buying and insider selling on a daily basis based on Form 4 filings with the Securities and Exchange Commission.
We track acquisitions of U.S. public companies by other companies, private equity funds, and investor groups.
We track stock buyback announcements by U.S. companies on a daily basis. We check carefully to be sure we do not double-count buybacks when companies replenish existing buyback authorizations.
Actual Float Change
We track actual float change at the company level on a daily basis. Data is available for more than 5,000 U.S.-listed public companies. It is also aggregated at the industry and sector levels.
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TrimTabs Investment Research, Inc. (TTIR) is not registered as an investment adviser with the Securities and Exchange Commission (SEC) or any state. It relies on the "publisher exclusion" from the definition of an investment adviser under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state laws. TTIR provides bona fide research services and investment newsletters that are generally available for subscription by the public. It does not provide any personalized advice.
TrimTabs Data Services
Time-series datasets are the foundation of TrimTabs liquidity research. The quality and breadth of our data and our rigorous analysis are what set us apart.
You can download an overview of our data offerings here.
We collect data on all aspects of stock market liquidity:
Fund flows – mutual fund, exchange-traded fund, and futures flows.
Corporate actions – new and completed cash takeovers, stock buybacks, new equity offerings, and insider trading as well as actual float change at the industry, sector, and company levels.
Finally, we track daily U.S. Treasury tax collections and maintain the TrimTabs Macroeconomic Index.
Our data is customized to meet the specific needs of our clients. Delivery is available through email, FTP sites, and the TrimTabs Client Portal.