Japan Smaller Capitalization Fund, Inc. (NYSE:JOF) Sees Significant Growth in Short Interest

Key Points

• Short interest jumped sharply in Japan Smaller Capitalization Fund, rising 140.7% in June to 26,860 shares as of June 30, though the stock still had only 0.1% of shares sold short.
• The fund’s shares were up 0.8% to $11.74, trading near both its 50-day and 200-day moving averages and within its recent 12-month range of $9.52 to $12.76.
• Japan Smaller Capitalization Fund announced a monthly dividend of $0.0956 per share, payable September 30, which implies an annualized yield of 9.8%.

Japan Smaller Capitalization Fund, Inc. (NYSE:JOF - Get Free Report) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 26,860 shares, a growth of 140.7% from the June 15th total of 11,159 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 90,691 shares, the days-to-cover ratio is presently 0.3 days.

Get JOF SMS alerts:

Sign Up

Japan Smaller Capitalization Fund Stock Up 0.8%

Shares of Japan Smaller Capitalization Fund stock traded up $0.09 during trading on Tuesday, reaching $11.74. The company's stock had a trading volume of 15,643 shares, compared to its average volume of 99,966. The business has a 50 day moving average price of $11.64 and a 200-day moving average price of $11.42. Japan Smaller Capitalization Fund has a 12-month low of $9.52 and a 12-month high of $12.76.

Japan Smaller Capitalization Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.0956 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 9.8%.

Hedge Funds Weigh In On Japan Smaller Capitalization Fund

A number of institutional investors and hedge funds have recently made changes to their positions in JOF. International Assets Investment Management LLC purchased a new position in shares of Japan Smaller Capitalization Fund in the 4th quarter valued at about $43,000. Western Wealth Management LLC purchased a new stake in Japan Smaller Capitalization Fund during the first quarter worth about $50,000. Bank of America Corp DE grew its position in Japan Smaller Capitalization Fund by 144.7% during the fourth quarter. Bank of America Corp DE now owns 5,138 shares of the company's stock worth $39,000 after buying an additional 3,038 shares during the period. Colonial Trust Advisors acquired a new position in Japan Smaller Capitalization Fund during the fourth quarter worth about $104,000. Finally, Quantedge Capital Pte Ltd acquired a new position in Japan Smaller Capitalization Fund during the first quarter worth about $131,000.

Japan Smaller Capitalization Fund Company Profile

Japan Smaller Capitalization Fund, Inc NYSE: JOF is a U.S.-listed closed-end investment company dedicated to long-term capital appreciation through exposure to Japan's smaller capitalization equities. The fund seeks to identify and invest in firms whose market valuations and growth prospects may be overlooked by broader market indices, offering investors differentiated access to Japan's domestic growth opportunities.

The portfolio typically comprises equity securities of companies traded on the Tokyo Stock Exchange and other recognized Japanese markets, with a focus on firms outside the large-cap segment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.