CEMIG (NYSE:CIG) Short Interest Down 8.3% in March

CEMIG (NYSE:CIG) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 1,320,000 shares, a drop of 8.3% from the March 15th total of 1,440,000 shares. Based on an average trading volume of 2,570,000 shares, the short-interest ratio is currently 0.5 days.

Hedge Funds Weigh In On CEMIG

A hedge fund recently raised its stake in CEMIG stock. Marshall Wace LLP raised its stake in CEMIG (NYSE:CIG) by 66.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,533,362 shares of the utilities provider’s stock after buying an additional 1,410,006 shares during the period. Marshall Wace LLP owned approximately 0.16% of CEMIG worth $7,173,000 as of its most recent filing with the SEC.

CEMIG Stock Down 2.6 %

Shares of CIG stock traded down $0.06 during mid-day trading on Tuesday, hitting $2.40. 2,142,050 shares of the stock traded hands, compared to its average volume of 2,537,229. CEMIG has a twelve month low of $2.11 and a twelve month high of $2.75. The company’s 50-day simple moving average is $2.38 and its 200-day simple moving average is $2.36.

CEMIG Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, March 27th. Shareholders of record on Monday, April 1st were issued a $0.0352 dividend. The ex-dividend date was Thursday, March 28th. CEMIG’s payout ratio is 41.31%.

About CEMIG

Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels.