Short Interest in VEON Ltd. (NASDAQ:VEON) Drops By 42.0%

VEON Ltd. (NASDAQ:VEON – Get Rating) was the recipient of a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 19,300 shares, a decrease of 42.0% from the April 30th total of 33,300 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average trading volume of 62,600 shares, the days-to-cover ratio is presently 0.3 days.

VEON Price Performance

Shares of NASDAQ:VEON opened at $19.32 on Friday. The company’s 50 day moving average is $18.52 and its two-hundred day moving average is $15.49. VEON has a 52 week low of $7.45 and a 52 week high of $21.48.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of VEON. UBS Group AG grew its position in VEON by 22.6% during the 3rd quarter. UBS Group AG now owns 171,685 shares of the Wireless communications provider’s stock worth $55,000 after purchasing an additional 31,678 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new stake in shares of VEON in the first quarter valued at about $54,000. Great West Life Assurance Co. Can boosted its holdings in VEON by 85.7% during the first quarter. Great West Life Assurance Co. Can now owns 68,681 shares of the Wireless communications provider’s stock worth $49,000 after buying an additional 31,706 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in VEON during the first quarter worth about $48,000. Finally, Jane Street Group LLC purchased a new stake in shares of VEON in the second quarter valued at about $45,000. 16.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of VEON from a “strong-buy” rating to a “buy” rating in a report on Friday, May 19th.

About VEON

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VEON Ltd. is a holding company, which engages in the provision of connectivity and internet services. It operates through the following segments: Cornerstone Market, Growth Engine, and Frontier Market. The Cornerstone segment includes operations in Russia. The Growth Engines segment comprises businesses in Pakistan, Ukraine, Kazakhstan, and Uzbekistan.