Svenska Cellulosa Aktiebolaget SCA (publ) (OTCMKTS:SVCBF) Shares Up 5.6% – Here’s Why

Svenska Cellulosa Aktiebolaget SCA (publ) (OTCMKTS:SVCBF) shot up 5.6% during mid-day trading on Wednesday . The stock traded as high as $11.96 and last traded at $11.80. 70,000 shares were traded during trading, an increase of 1,058% from the average session volume of 6,043 shares. The stock had previously closed at $11.17.

Svenska Cellulosa Aktiebolaget SCA (publ) Price Performance

The business’s 50 day simple moving average is $10.75 and its 200 day simple moving average is $11.34.

About Svenska Cellulosa Aktiebolaget SCA (publ)

Svenska Cellulosa Aktiebolaget SCA (publ) is a Sweden?based forest industry company and one of Europe’s largest private forest owners. Headquartered in Stockholm, SCA manages approximately 2.6 million hectares of forestland and operates an integrated value chain spanning timber harvesting, pulp production and bioenergy generation. The company’s operations are underpinned by a long?term commitment to sustainable forest management and certification standards.

The company’s core business activities include the production of softwood pulp for use in packaging, tissue and specialty paper products, as well as sawn timber and engineered wood products for the construction sector.