Drax Group plc (OTCMKTS:DRXGY) Sees Large Drop in Short Interest

Drax Group plc (OTCMKTS:DRXGY) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 100 shares, a decrease of 75.0% from the August 15th total of 400 shares. Based on an average daily trading volume, of 400 shares, the days-to-cover ratio is presently 0.3 days.

Drax Group Stock Performance

Shares of Drax Group stock traded down $1.44 on Thursday, hitting $16.30. The stock had a trading volume of 141 shares, compared to its average volume of 786. The stock has a 50 day moving average of $16.08 and a 200 day moving average of $14.11. Drax Group has a twelve month low of $9.74 and a twelve month high of $18.00.

Drax Group Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, September 20th will be paid a $0.2245 dividend. The ex-dividend date is Friday, September 20th. Drax Group’s dividend payout ratio is currently -53.33%.

About Drax Group

Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. It operates through three segments: Pellet Production, Generation, and Customers. The Pellet Production segment produces and sells biomass pellets. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid.