FirstRand Limited (OTCMKTS:FANDF) Sees Significant Drop in Short Interest

FirstRand Limited (OTCMKTS:FANDF) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totaling 108,918 shares, a drop of 59.0% from the June 30th total of 265,580 shares. Based on an average daily volume of 11 shares, the short-interest ratio is currently 9,901.6 days.

FirstRand Price Performance

Shares of FANDF remained flat at $5.60 during mid-day trading on Wednesday. The company has a 50-day moving average price of $5.61 and a 200 day moving average price of $5.56. FirstRand has a 52 week low of $4.21 and a 52 week high of $6.01.

FirstRand Company Profile

FirstRand Limited is a South African financial services group headquartered in Johannesburg. Established in 1998 through the consolidation of First National Bank of South Africa and Rand Merchant Bank, the company has grown into one of the continent’s leading providers of banking and financial products. FirstRand operates a diversified financial-services platform that spans retail, commercial and corporate banking.

The group’s main operating divisions include First National Bank (FNB), which offers personal and small-business banking; Rand Merchant Bank (RMB), specializing in corporate and investment banking; WesBank, a provider of vehicle and asset finance; and Ashburton Investments, which delivers asset management and tailored investment solutions.