Power Co. of Canada (OTCMKTS:PWCDF) Short Interest Down 41.7% in July

Power Co. of Canada (OTCMKTS:PWCDFGet Free Report) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 4,083,542 shares, a decrease of 41.7% from the July 15th total of 6,999,365 shares. Based on an average daily volume of 194,486 shares, the days-to-cover ratio is currently 21.0 days.

Hedge Funds Weigh In On Power Co. of Canada

A hedge fund recently raised its stake in Power Co. of Canada stock. Cullen Capital Management LLC grew its position in Power Co. of Canada (OTCMKTS:PWCDFFree Report) by 2.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 886,766 shares of the company’s stock after buying an additional 18,490 shares during the period. Cullen Capital Management LLC’s holdings in Power Co. of Canada were worth $55,121,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 41.73% of the company’s stock.

Power Co. of Canada Price Performance

PWCDF opened at $68.43 on Tuesday. The stock’s 50 day moving average price is $64.48 and its 200-day moving average price is $56.51. Power Co. of Canada has a 52-week low of $40.50 and a 52-week high of $70.74.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. BMO Capital Markets restated a “market perform” rating on shares of Power Co. of Canada in a research report on Friday, July 31st. TD Securities reissued a “hold” rating on shares of Power Co. of Canada in a research note on Friday, July 31st. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Power Co. of Canada in a report on Wednesday, April 29th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Power Co. of Canada in a research note on Thursday, May 14th. Finally, Desjardins reissued a “buy” rating on shares of Power Co. of Canada in a research note on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Power Co. of Canada currently has a consensus rating of “Moderate Buy”.

Check Out Our Latest Stock Analysis on PWCDF

Power Co. of Canada Company Profile

(Get Free Report)

Power Co of Canada is a diversified international management and holding company founded in 1925 and headquartered in Montreal, Quebec. Through its principal subsidiaries, the company builds long-term value by investing in and providing strategic oversight to companies operating primarily in the financial services sector. Power Co maintains a long history of family ownership and stewardship, with former co-CEOs Paul Desmarais Jr. and André Desmarais playing key roles in its development over recent decades.

The company’s main areas of activity encompass life and health insurance, wealth and asset management, and retirement services.

Further Reading

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