Power Co. of Canada (OTCMKTS:PWCDF) Sees Large Growth in Short Interest

Power Co. of Canada (OTCMKTS:PWCDF) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 7,265,363 shares, an increase of 409.2% from the May 31st total of 1,426,821 shares. Based on an average daily trading volume, of 43,211 shares, the days-to-cover ratio is presently 168.1 days.

Analyst Ratings Changes

A number of brokerages have commented on PWCDF. Scotiabank reaffirmed an “outperform” rating on shares of Power Co. of Canada in a report on Tuesday, April 28th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Power Co. of Canada in a research note on Wednesday, April 29th. Royal Bank Of Canada reissued an “outperform” rating on shares of Power Co. of Canada in a research report on Thursday, May 14th. Desjardins restated a “buy” rating on shares of Power Co. of Canada in a research note on Wednesday, May 13th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Power Co. of Canada in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Power Co. of Canada Trading Up 0.7%

Power Co. of Canada stock traded up $0.43 during midday trading on Friday, hitting $60.95. The stock had a trading volume of 25,842 shares, compared to its average volume of 87,330. Power Co. of Canada has a 52-week low of $37.89 and a 52-week high of $69.16. The firm’s fifty day moving average is $58.57 and its two-hundred day moving average is $53.23.

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.