Companhia Energetica de Minas Gerais S.A. (NYSE:CIG) shares saw unusually-strong trading volume on Thursday . Approximately 5,143,222 shares changed hands during mid-day trading, a decline of 2% from the previous session’s volume of 5,233,766 shares.The stock last traded at $2.66 and had previously closed at $2.45.

Separately, Zacks Investment Research downgraded Companhia Energetica de Minas Gerais from a “hold” rating to a “sell” rating in a research report on Friday, June 3rd.

The stock has a market capitalization of $3.33 billion and a PE ratio of 11.09. The firm has a 50 day moving average price of $1.87 and a 200-day moving average price of $1.74.

A number of hedge funds and institutional investors have made changes to their positions in CIG. Schroder Investment Management Group boosted its position in shares of Companhia Energetica de Minas Gerais by 103.6% in the fourth quarter. Schroder Investment Management Group now owns 11,383,104 shares of the company’s stock worth $17,074,000 after buying an additional 5,791,800 shares in the last quarter. TSP Capital Management Group LLC boosted its position in shares of Companhia Energetica de Minas Gerais by 32.5% in the fourth quarter. TSP Capital Management Group LLC now owns 1,786,886 shares of the company’s stock worth $2,680,000 after buying an additional 438,376 shares in the last quarter. Finally, Oxford Asset Management boosted its position in shares of Companhia Energetica de Minas Gerais by 45.2% in the fourth quarter. Oxford Asset Management now owns 979,267 shares of the company’s stock worth $1,498,000 after buying an additional 304,859 shares in the last quarter.

Companhia Energetica de Minas Gerais CEMIG is a Brazil-based holding company mainly engaged in the generation, transmission and distribution of electricity. The Company operates through the segments: Generation, Transmission, Distribution, Telecom, Gas and Other. The Company generates electricity at approximately 78 hydroelectric plants, three thermoelectric plants and 23 wind farms.

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