Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) Sees Large Decline in Short Interest

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) saw a large decline in short interest in July. As of July 15th, there was short interest totaling 5,383 shares, a decline of 59.7% from the June 30th total of 13,369 shares. Based on an average trading volume of 58,685 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company’s stock are short sold.

Oversea-Chinese Banking Stock Up 2.8%

Shares of OVCHY stock traded up $1.24 during trading on Wednesday, hitting $46.14. 4,274 shares of the company were exchanged, compared to its average volume of 39,430. The business’s 50-day simple moving average is $39.63 and its 200 day simple moving average is $35.86. Oversea-Chinese Banking has a twelve month low of $24.89 and a twelve month high of $46.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.88.

About Oversea-Chinese Banking

Oversea-Chinese Banking Corporation Limited (commonly known as OCBC) is a Singapore-based regional bank that provides a broad range of banking and financial services to retail, corporate and institutional customers. Its core activities include consumer banking, wealth management, commercial and corporate banking, treasury and markets, trade finance, and transaction banking. OCBC also conducts investment banking activities and offers asset management services, and its group structure includes insurance and other financial services delivered through affiliated subsidiaries and regional units.

The bank traces its origins to a 1932 merger of several Chinese-named banks in Singapore and has since grown into one of the region’s larger financial institutions with a significant presence across Southeast Asia and Greater China.