Short Interest in Shoprite Holdings Ltd (OTCMKTS:SRGHY) Grows By 1,655.6%

Shoprite Holdings Ltd (OTCMKTS:SRGHY) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 31,600 shares, an increase of 1,655.6% from the February 28th total of 1,800 shares. Based on an average daily trading volume, of 58,800 shares, the days-to-cover ratio is currently 0.5 days.

Shoprite Stock Performance

OTCMKTS SRGHY traded up $0.41 on Thursday, reaching $15.04. The company had a trading volume of 2,167 shares, compared to its average volume of 11,859. The firm’s 50 day moving average price is $15.11 and its 200 day moving average price is $16.13. Shoprite has a 12 month low of $11.98 and a 12 month high of $18.18.

Shoprite Cuts Dividend

The company also recently announced a dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, March 28th will be issued a $0.1039 dividend. The ex-dividend date is Friday, March 28th. Shoprite’s dividend payout ratio (DPR) is 60.55%.

About Shoprite

Shoprite Holdings Ltd, an investment holding company, primarily engages in the food retailing business in South Africa and internationally. The company operates through four segments: Supermarkets RSA, Supermarkets Non-RSA, Furniture, and Other Operating segments. It also offers clothing, general merchandise, cosmetics, and liquor products; furniture and home entertainment products; and electrical and household appliances.