BAE Systems plc (OTCMKTS:BAESF) Sees Significant Drop in Short Interest

by · The Markets Daily

BAE Systems plc (OTCMKTS:BAESF – Get Free Report) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totalling 544,800 shares, a drop of 26.8% from the September 30th total of 744,500 shares. Based on an average trading volume of 40,500 shares, the days-to-cover ratio is presently 13.5 days.

BAE Systems Stock Performance

Shares of OTCMKTS:BAESF traded down $0.64 during trading on Monday, reaching $16.71. The stock had a trading volume of 3,800 shares, compared to its average volume of 38,820. The business has a fifty day moving average price of $17.16 and a 200-day moving average price of $17.01. BAE Systems has a 1-year low of $12.85 and a 1-year high of $18.26.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in BAE Systems stock. Eagle Bay Advisors LLC acquired a new stake in BAE Systems plc (OTCMKTS:BAESF – Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,050 shares of the company’s stock, valued at approximately $34,000. 40.72% of the stock is currently owned by institutional investors and hedge funds.

About BAE Systems

(Get Free Report)

BAE Systems plc provides defense, aerospace, and security solutions worldwide. The company operates through five segments: Electronic Systems, Platforms & Services, Air, Maritime, and Cyber & Intelligence. The Electronic Systems segment offers electronic warfare systems, navigation systems, electro-optical sensors, military and commercial digital engine and flight controls, precision guidance and seeker solutions, military communication systems and data links, persistent surveillance capabilities, space electronics, and electric drive propulsion systems.

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