IG Group Holdings plc (OTCMKTS:IGGHY) Sees Large Decline in Short Interest

IG Group Holdings plc (OTCMKTS:IGGHY) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 7,500 shares, a drop of 7.4% from the March 15th total of 8,100 shares. Based on an average daily trading volume, of 400 shares, the days-to-cover ratio is presently 18.8 days.

IG Group Price Performance

IG Group stock remained flat at $8.95 during mid-day trading on Monday. 3 shares of the company’s stock were exchanged, compared to its average volume of 1,025. IG Group has a 12-month low of $7.30 and a 12-month high of $9.93. The stock’s 50 day simple moving average is $8.94 and its 200 day simple moving average is $8.78.

IG Group Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, March 8th. Stockholders of record on Monday, February 5th were issued a dividend of $0.1522 per share. The ex-dividend date of this dividend was Friday, February 2nd. IG Group’s payout ratio is 62.58%.

IG Group Company Profile

IG Group Holdings plc, a fintech company, engages in the online trading business worldwide. The company offers over the counter (OTC) derivatives, which include CFD (Contracts For Difference) that enable traders to take advantage of changes in an asset's price without owning the asset itself, as well as access to a range of risk-mitigation measures, including stops and limits, and negative-balance protection; and OTC FX and options, and spread bets, under IG and IG Prime brands.