Short Interest in Power Co. of Canada (OTCMKTS:PWCDF) Decreases By 76.2%

Power Co. of Canada (OTCMKTS:PWCDF) saw a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 1,388,868 shares, a drop of 76.2% from the April 15th total of 5,832,433 shares. Based on an average daily volume of 67,539 shares, the days-to-cover ratio is presently 20.6 days.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PWCDF. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Power Co. of Canada in a research report on Wednesday, April 29th. Scotiabank reiterated an “outperform” rating on shares of Power Co. of Canada in a research report on Tuesday, April 28th. BMO Capital Markets restated a “market perform” rating on shares of Power Co. of Canada in a research report on Tuesday. Finally, Desjardins reiterated a “buy” rating on shares of Power Co. of Canada in a report on Wednesday. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold”.

Power Co. of Canada Price Performance

PWCDF stock traded down $0.36 during trading on Wednesday, reaching $58.10. 57,254 shares of the company traded hands, compared to its average volume of 48,516. Power Co. of Canada has a 12 month low of $34.21 and a 12 month high of $58.52. The business has a 50 day simple moving average of $51.08 and a 200 day simple moving average of $50.55.

About Power Co. of Canada

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.