Short Interest in Pacific Basin Shipping Ltd. (OTCMKTS:PCFBY) Decreases By 83.1%

Key Points

• Short interest in Pacific Basin Shipping Ltd. has decreased dramatically by 83.1% in September, dropping from 6,500 shares to only 1,100 shares.
• The company recently announced a dividend of $0.0326 per share, which indicates an unusually high yield of 228.0%.
• Pacific Basin Shipping's stock performance shows it has ranged between a one-year low of $3.39 and a high of $6.50, with the stock priced at $6.49 recently.

Pacific Basin Shipping Ltd. (OTCMKTS:PCFBY - ) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 1,100 shares, a drop of 83.1% from the September 15th total of 6,500 shares. Based on an average daily volume of 9,900 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 9,900 shares, the short-interest ratio is presently 0.1 days.

Pacific Basin Shipping Stock Performance

PCFBY opened at $6.49 on Friday. Pacific Basin Shipping has a 1 year low of $3.39 and a 1 year high of $6.50. The stock has a 50-day moving average price of $5.84 and a 200-day moving average price of $5.20. The company has a quick ratio of 1.18, a current ratio of 1.48 and a debt-to-equity ratio of 0.06.

Pacific Basin Shipping Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, September 19th. Investors of record on Monday, August 25th were given a dividend of $0.0326 per share. The ex-dividend date was Friday, August 22nd. This represents a yield of 228.0%.

About Pacific Basin Shipping

Pacific Basin Shipping Limited, an investment holding company, engages in the provision of dry bulk shipping services worldwide. The company offers its shipping services that mainly carry major and minor bulks, including grains, ores, logs/forest products, bauxite, sugar, concentrates, cement and clinkers, coal/coke, fertilizers, alumina, steel, pet-coke, salt, sand and gypsum, and scrap.

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