Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) Sees Large Drop in Short Interest

Key Points

• Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) experienced a significant drop in short interest, with a decline of 24.6% in August, bringing the total to 4,600 shares.
• The company declared an increased dividend of $0.5614 per share, up from the previous $0.24, resulting in a remarkable yield of 502.0%.
• As of Monday, shares traded at $26.17, showing a slight decline of 0.7%, with the stock's 52-week range being $20.70 to $27.95.

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY - ) was the target of a significant decline in short interest during the month of August. As of August 15th, there was short interest totaling 4,600 shares, adeclineof24.6% from the July 31st total of 6,100 shares. Based on an average daily volume of 41,600 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 41,600 shares, the days-to-cover ratio is currently 0.1 days.

Oversea-Chinese Banking Trading Down 0.7%

Shares of OTCMKTS:OVCHY opened at $26.17 on Monday. The company's fifty day moving average price is $26.33 and its 200-day moving average price is $25.41. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.91 and a quick ratio of 0.91. Oversea-Chinese Banking has a one year low of $20.70 and a one year high of $27.95.

Oversea-Chinese Banking Increases Dividend

The company also recently declared a dividend, which was paid on Friday, September 5th. Shareholders of record on Tuesday, August 12th were given a dividend of $0.5614 per share. The ex-dividend date was Monday, August 11th. This is a positive change from Oversea-Chinese Banking's previous dividend of $0.24. This represents a yield of 502.0%.

About Oversea-Chinese Banking

Oversea-Chinese Banking Corporation Limited engages in the provision of financial services in Singapore, Malaysia, Indonesia, Greater China, rest of the Asia Pacific, and internationally. The company's Global Consumer/Private Banking segment provides products and services to individual customers, including checking accounts, and savings and fixed deposits; housing and other personal loans; credit cards; wealth management products consisting of unit trusts, banc assurance products, and structured deposits; and brokerage services.

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