Short Interest in Power Co. of Canada (OTCMKTS:PWCDF) Declines By 41.7%

Power Co. of Canada (OTCMKTS:PWCDF) saw a significant decrease in short interest in 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 trading volume of 194,486 shares, the short-interest ratio is presently 21.0 days.

Institutional Trading of Power Co. of Canada

An institutional investor recently raised its position in Power Co. of Canada stock. Cullen Capital Management LLC increased its position in shares of Power Co. of Canada (OTCMKTS:PWCDF) by 2.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 886,766 shares of the company’s stock after buying an additional 18,490 shares during the quarter. Cullen Capital Management LLC’s holdings in Power Co. of Canada were worth $55,121,000 as of its most recent SEC filing. 41.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Power Co. of Canada Price Performance

Shares of PWCDF opened at $68.06 on Monday. Power Co. of Canada has a 1-year low of $40.50 and a 1-year high of $70.74. The firm has a fifty day moving average price of $64.30 and a 200 day moving average price of $56.39.

Power Co. of Canada Company Profile

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.