Mechel PAO (NYSE:MTL) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 286,400 shares, an increase of 302.8% from the August 15th total of 71,100 shares. Based on an average daily volume of 596,800 shares, the short-interest ratio is presently 0.5 days.
Shares of MTL traded down $0.32 during mid-day trading on Thursday, reaching $4.23. The company had a trading volume of 670,682 shares, compared to its average volume of 416,644. The company’s 50 day simple moving average is $2.65 and its 200 day simple moving average is $2.21. Mechel PAO has a 1-year low of $1.29 and a 1-year high of $5.19.
Institutional investors and hedge funds have recently bought and sold shares of the company. Parametric Portfolio Associates LLC boosted its position in Mechel PAO by 133.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 284,654 shares of the basic materials company’s stock worth $578,000 after buying an additional 162,753 shares during the period. Marshall Wace LLP boosted its position in Mechel PAO by 1,408.4% during the 2nd quarter. Marshall Wace LLP now owns 303,167 shares of the basic materials company’s stock worth $615,000 after buying an additional 283,069 shares during the period. Millennium Management LLC acquired a new stake in Mechel PAO during the 2nd quarter worth approximately $517,000. Balyasny Asset Management LLC acquired a new stake in Mechel PAO during the 2nd quarter worth approximately $79,000. Finally, Goldman Sachs Group Inc. boosted its position in Mechel PAO by 129.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 192,427 shares of the basic materials company’s stock worth $391,000 after buying an additional 108,386 shares during the period. Institutional investors own 2.74% of the company’s stock.
Mechel PAO is a holding company, which engages in the mining and production of coal and steel, iron core, and nickel products. It operates through the following business segments: Steel, Mining, and Power. The Steel segment sells semi-finished steel products, long products of a wide range of steel grades, carbon and stainless flat steel products, and high value-added metal products.
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