Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) Sees Significant Increase in Short Interest

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totaling 25,016 shares, an increase of 23.1% from the November 30th total of 20,325 shares. Based on an average daily volume of 45,842 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.0% of the shares of the company are sold short. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 45,842 shares, the days-to-cover ratio is presently 0.5 days.

Oversea-Chinese Banking Trading Up 3.8%

Shares of OVCHY stock traded up $1.16 on Wednesday, reaching $31.95. 2,577 shares of the stock were exchanged, compared to its average volume of 20,686. The stock has a 50 day moving average price of $28.41 and a 200 day moving average price of $26.90. Oversea-Chinese Banking has a one year low of $20.70 and a one year high of $33.31.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Oversea-Chinese Banking from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Oversea-Chinese Banking presently has an average rating of “Hold”.

About Oversea-Chinese Banking

Oversea-Chinese Banking Corporation Limited (commonly known as OCBC) is a Singapore-based regional bank that provides a broad range of banking and financial services to retail, corporate and institutional customers. Its core activities include consumer banking, wealth management, commercial and corporate banking, treasury and markets, trade finance, and transaction banking. OCBC also conducts investment banking activities and offers asset management services, and its group structure includes insurance and other financial services delivered through affiliated subsidiaries and regional units.

The bank traces its origins to a 1932 merger of several Chinese-named banks in Singapore and has since grown into one of the region’s larger financial institutions with a significant presence across Southeast Asia and Greater China.