Pacific Basin Shipping Limited (OTCMKTS:PCFBY) Sees Large Increase in Short Interest

Pacific Basin Shipping Limited (OTCMKTS:PCFBYGet Rating) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 3,700 shares, an increase of 164.3% from the March 15th total of 1,400 shares. Based on an average daily volume of 2,200 shares, the days-to-cover ratio is currently 1.7 days.

PCFBY opened at $11.04 on Thursday. The company has a fifty day moving average price of $10.35 and a two-hundred day moving average price of $8.90. Pacific Basin Shipping has a 1-year low of $6.61 and a 1-year high of $11.64.

The company also recently announced a dividend, which will be paid on Friday, May 20th. Investors of record on Thursday, April 21st will be given a $0.46 dividend. This represents a yield of 16.3%. The ex-dividend date of this dividend is Wednesday, April 20th.

Separately, Zacks Investment Research downgraded shares of Pacific Basin Shipping from a “hold” rating to a “sell” rating in a research report on Wednesday, March 23rd.

About Pacific Basin Shipping (Get Rating)

Pacific Basin Shipping Limited, an investment holding company, provides dry bulk shipping services worldwide. It also offers shipping consulting, ocean shipping, crewing, secretarial, and agency and ship management services; and engages in the vessel owning and chartering, and convertible bonds issuing activities.

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