Short Interest in City Developments Ltd. (OTCMKTS:CDEVY) Declines By 81.3%

Key Points

• Short interest in City Developments Ltd. decreased by 81.3% in August, dropping from 3,200 shares to 600 shares, indicating reduced bearish sentiment.
• The company's stock recently traded up 2.5% to $5.16, with a 52-week trading range of $3.24 to $5.84.
• City Developments has announced a dividend of $0.0188 per share, representing a yield of 35.0%, to be paid on September 15th.

City Developments Ltd. (OTCMKTS:CDEVY - Get Free Report) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 600 shares, a decrease of 81.3% from the August 15th total of 3,200 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,600 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 3,600 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the shares of the stock are short sold.

City Developments Price Performance

OTCMKTS:CDEVY traded up $0.32 during trading hours on Tuesday, reaching $5.43. 1,258 shares of the company traded hands, compared to its average volume of 9,615. The firm's 50-day moving average is $4.93 and its 200-day moving average is $4.21. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81. City Developments has a 1-year low of $3.24 and a 1-year high of $5.84.

City Developments Cuts Dividend

The business also recently announced a dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, August 26th were issued a dividend of $0.0188 per share. This represents a yield of 35.0%. The ex-dividend date was Monday, August 25th.

About City Developments

City Developments Limited (CDL) is a leading global real estate company with a network spanning 112 locations in 29 countries and regions. Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalisation. Its income-stable and geographically-diverse portfolio comprises residences, offices, hotels, serviced apartments, shopping malls and integrated developments.