Drax Group plc (OTCMKTS:DRXGY) Sees Significant Increase in Short Interest

Drax Group plc (OTCMKTS:DRXGY) was the recipient of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 200 shares, a growth of 100.0% from the May 15th total of 100 shares. Based on an average daily trading volume, of 1,000 shares, the days-to-cover ratio is presently 0.2 days.

Drax Group Stock Performance

DRXGY stock remained flat at $14.80 during mid-day trading on Friday. The company’s stock had a trading volume of 12 shares, compared to its average volume of 1,029. The firm has a 50-day moving average of $14.12 and a 200 day moving average of $12.45. Drax Group has a 52 week low of $9.74 and a 52 week high of $15.30.

Drax Group Increases Dividend

The company also recently announced a dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, April 19th were issued a dividend of $0.3105 per share. The ex-dividend date of this dividend was Thursday, April 18th. This is a boost from Drax Group’s previous dividend of $0.16. Drax Group’s dividend payout ratio is presently -53.33%.

Drax Group Company Profile

Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. It operates through three segments: Pellet Production, Generation, and Customers. The Pellet Production segment produces and sells biomass pellets. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid.