CEMIG (NYSE:CIG) Sees Significant Decrease in Short Interest

CEMIG (NYSE:CIG) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,320,000 shares, a drop of 8.3% from the March 15th total of 1,440,000 shares. Based on an average daily volume of 2,570,000 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in CEMIG stock. Marshall Wace LLP lifted its stake in shares of CEMIG (NYSE:CIG) by 66.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,533,362 shares of the utilities provider’s stock after buying an additional 1,410,006 shares during the quarter. Marshall Wace LLP owned about 0.16% of CEMIG worth $7,173,000 as of its most recent filing with the Securities & Exchange Commission.

CEMIG Trading Down 2.6 %

Shares of CIG stock traded down $0.06 on Tuesday, hitting $2.40. The company had a trading volume of 2,142,050 shares, compared to its average volume of 2,537,229. CEMIG has a twelve month low of $2.11 and a twelve month high of $2.75. The stock’s 50-day moving average is $2.38 and its two-hundred day moving average is $2.36.

CEMIG Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, March 27th. Shareholders of record on Monday, April 1st were given a dividend of $0.0352 per share. The ex-dividend date of this dividend was Thursday, March 28th. CEMIG’s dividend payout ratio (DPR) is currently 41.31%.

About CEMIG

Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels.