Weg S.A. (OTCMKTS:WEGZY) Sees Large Increase in Short Interest

Weg S.A. (OTCMKTS:WEGZY) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 28,200 shares, an increase of 57.5% from the August 31st total of 17,900 shares. Based on an average daily trading volume, of 53,500 shares, the days-to-cover ratio is currently 0.5 days.

WEG Stock Up 0.8 %

OTCMKTS WEGZY opened at $10.22 on Friday. WEG has a 52 week low of $5.93 and a 52 week high of $10.36. The stock’s 50-day moving average price is $9.35 and its 200-day moving average price is $8.22.

WEG Increases Dividend

The company also recently announced a dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, October 7th will be paid a dividend of $0.0084 per share. This is a boost from WEG’s previous dividend of $0.01. The ex-dividend date is Monday, October 7th. WEG’s dividend payout ratio (DPR) is presently 24.44%.

About WEG

WEG SA engages in the production and sale of capital goods in Brazil and internationally. The company offers electric motors, generators, and transformers; gear units and geared motors; hydraulic and steam turbines; frequency converters; motor starters and maneuver devices; control and protection of electric circuits for industrial automation; power sockets and switches; and electric traction solutions for heavy vehicles, SUV vehicles, locomotives, and sea transportation capital goods.