Weg S.A. (OTCMKTS:WEGZY) Sees Large Increase in Short Interest

Weg S.A. (OTCMKTS:WEGZY) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 51,400 shares, an increase of 180.9% from the December 15th total of 18,300 shares. Based on an average daily volume of 64,300 shares, the days-to-cover ratio is currently 0.8 days.

WEG Stock Performance

Shares of OTCMKTS WEGZY traded up $0.08 during trading on Tuesday, reaching $8.82. The company had a trading volume of 39,947 shares, compared to its average volume of 44,078. The stock has a 50-day moving average price of $9.21 and a two-hundred day moving average price of $9.24. WEG has a twelve month low of $6.31 and a twelve month high of $10.36.

WEG Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, December 30th will be paid a dividend of $0.0084 per share. This is an increase from WEG’s previous dividend of $0.01. The ex-dividend date is Monday, December 30th. WEG’s payout ratio is currently 24.44%.

About WEG

WEG SA engages in the production and sale of capital goods in Brazil and internationally. The company offers electric motors, generators, and transformers; gear units and geared motors; hydraulic and steam turbines; frequency converters; motor starters and maneuver devices; control and protection of electric circuits for industrial automation; power sockets and switches; and electric traction solutions for heavy vehicles, SUV vehicles, locomotives, and sea transportation capital goods.