Magellan Financial Group Limited (OTCMKTS:MGLLF) Sees Significant Growth in Short Interest

Magellan Financial Group Limited (OTCMKTS:MGLLF) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 1,001,118 shares, an increase of 110.4% from the August 31st total of 475,863 shares. Based on an average daily trading volume, of 0 shares, the days-to-cover ratio is presently ∞ days.

Magellan Financial Group Stock Performance

Shares of OTCMKTS:MGLLF remained flat at C$6.74 during trading on Tuesday. The firm has a fifty day simple moving average of C$6.74 and a 200 day simple moving average of C$6.52. Magellan Financial Group has a fifty-two week low of C$5.10 and a fifty-two week high of C$6.74.

Magellan Financial Group Company Profile

Magellan Financial Group Limited is an Australia-based investment management company that provides funds management and investment services to retail, institutional and intermediary clients. The group operates through its investment management businesses, including Magellan Asset Management and Airlie Funds Management.

Its product range includes strategies focused on global equities, global listed infrastructure, Australian equities and Australian fixed interest. Magellan’s investment capabilities are offered through managed funds, separately managed accounts, institutional mandates and other investment vehicles distributed in Australia and selected international markets.

Magellan Financial Group was established in 2006 by Hamish Douglass, Chris Mackay and Brett Cairns.