Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) Short Interest Up 120.0% in May

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM – Get Rating) saw a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 1,100 shares, a growth of 120.0% from the April 30th total of 500 shares. Based on an average daily trading volume, of 4,300 shares, the short-interest ratio is presently 0.3 days.

Shares of Grupo Simec stock traded up $0.56 during trading hours on Friday, hitting $30.00. The company’s stock had a trading volume of 275 shares, compared to its average volume of 4,553. Grupo Simec has a twelve month low of $18.88 and a twelve month high of $36.27. The firm has a market cap of $4.64 billion, a PE ratio of 11.11 and a beta of 0.50.

An institutional investor recently raised its position in Grupo Simec stock. Morgan Stanley increased its position in shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM – Get Rating) by 34.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,496 shares of the basic materials company’s stock after acquiring an additional 1,149 shares during the period. Morgan Stanley’s holdings in Grupo Simec were worth $129,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 0.19% of the company’s stock.

Grupo Simec Company Profile (Get Rating)

Grupo Simec, SAB. de C.V. manufactures, processes, and distributes special bar quality (SBQ) steel and steel alloys products in Mexico, the United States, Brazil, Canada, and internationally. The company produces I-beams, channels, structural and commercial angles, hot rolled bars, flat bars, rebars, cold finished bars, electro-welded wire mesh and panels, and wire rods, as well as semi-finished tube rounds and other semi-finished trade products.

Further Reading

• Get a free copy of the StockNews.com research report on Grupo Simec (SIM)
• Short Sellers Provide Entry Into Hibbet, Inc At Rock Bottom Prices 
• Affirm Stock Has Affirmed a Bottom
• Airbnb: Bold Competitive Threats & A New World of Travel
• Is RBC Bearings Rolling Into A Reversal?
• Should Dollar General or Dollar Tree Give Investors a Case of FOMO?

Want More Great Investing Ideas?