Short Interest in Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) Rises By 90.6%

Key Points

• Short interest in Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) surged by 90.6% in July, reaching a total of 6,100 shares as of July 31st.
• The company announced a significant dividend increase, with a new payout of $0.5614 per share scheduled for September 5th, reflecting a yield of 502.0%.
• Shares of OVCHY saw a 3.0% rise in trading, closing at $27.25, with a trading volume of 11,525 shares on the day.

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY - Get Free Report) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 6,100 shares, agrowthof90.6% from the July 15th total of 3,200 shares. Currently,0.0% of the shares of the company are sold short. Based on an average daily volume of 33,300 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 33,300 shares, the days-to-cover ratio is currently 0.2 days. Currently,0.0% of the shares of the company are sold short.

Oversea-Chinese Banking Stock Performance

Shares of Oversea-Chinese Banking stock traded up $0.27 on Friday, reaching $26.31. 10,329 shares of the company were exchanged, compared to its average volume of 21,018. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.52. The company's 50-day moving average is $26.19 and its two-hundred day moving average is $25.38. Oversea-Chinese Banking has a 1-year low of $20.70 and a 1-year high of $27.95.

Oversea-Chinese Banking Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, September 5th. Shareholders of record on Tuesday, August 12th will be given a $0.5614 dividend. This is a positive change from Oversea-Chinese Banking's previous dividend of $0.24. The ex-dividend date is Monday, August 11th. 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.