Standard Bank Group Limited (OTCMKTS:SGBLY) Sees Large Drop in Short Interest

Standard Bank Group Limited (OTCMKTS:SGBLY) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 3,600 shares, a decline of 78.0% from the August 15th total of 16,400 shares. Based on an average daily volume of 24,000 shares, the days-to-cover ratio is presently 0.2 days.

OTCMKTS SGBLY traded up $0.20 on Wednesday, reaching $10.49. The stock had a trading volume of 17,290 shares, compared to its average volume of 17,241. Standard Bank Group has a 12-month low of $5.73 and a 12-month high of $10.52. The stock has a fifty day moving average price of $9.23 and a two-hundred day moving average price of $9.01.

The company also recently announced a dividend, which will be paid on Thursday, September 30th. Shareholders of record on Friday, September 17th will be given a $0.4056 dividend. This represents a yield of 3.94%. The ex-dividend date is Thursday, September 16th.

About Standard Bank Group

Standard Bank Group Ltd. is a holding company, which engages in the business of providing banking and financial services. The firm offers transactional banking, saving, borrowing, lending, investment, insurance, risk management, wealth management, and advisory services. It operates through the following business units: Personal and Business Banking, Corporate and Investment Banking, Central and Other; Banking Activities, Other Banking Interest, and Liberty.

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