Glencore plc (OTCMKTS:GLCNF) Sees Significant Drop in Short Interest

Glencore plc (OTCMKTS:GLCNF) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 901,998 shares, a drop of 74.0% from the September 30th total of 3,464,237 shares. Based on an average daily volume of 28,389 shares, the days-to-cover ratio is currently 31.8 days.

Glencore Stock Performance

GLCNF opened at $7.13 on Friday. Glencore has a 12 month low of $4.35 and a 12 month high of $8.56. The company has a fifty day simple moving average of $7.67 and a 200 day simple moving average of $7.34.

About Glencore

Glencore plc is a Switzerland-based natural resources company engaged in the production, processing, marketing and distribution of commodities. Its industrial activities include the mining and processing of copper, cobalt, zinc, nickel, lead, ferroalloys and coal, as well as the production of related metals and minerals.

The company also operates a global commodities marketing business that connects producers with industrial customers and end markets. Its activities include the sourcing, trading, transportation, storage and processing of metals, minerals, energy products and agricultural commodities, serving customers across manufacturing, technology, construction, power generation and other industries.

Glencore traces its origins to 1974, when it was established as Marc Rich & Co It later became Glencore International and expanded through the acquisition of Xstrata, completed in 2013.