RF Industries, Ltd. (NASDAQ:RFIL) Short Interest Update
RF Industries, Ltd. (NASDAQ:RFIL) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 40,200 shares, a drop of 7.6% from the July 31st total of 43,500 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily volume of 23,100 shares, the days-to-cover ratio is currently 1.7 days.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors Inc. acquired a new position in RF Industries in the 2nd quarter valued at about $2,916,000. Vanguard Group Inc. grew its position in RF Industries by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 324,131 shares of the electronics maker’s stock valued at $2,736,000 after acquiring an additional 2,300 shares in the last quarter. BlackRock Inc. grew its position in RF Industries by 4.5% in the 2nd quarter. BlackRock Inc. now owns 165,728 shares of the electronics maker’s stock valued at $1,400,000 after acquiring an additional 7,144 shares in the last quarter. Acadian Asset Management LLC grew its position in RF Industries by 7.4% in the 1st quarter. Acadian Asset Management LLC now owns 129,967 shares of the electronics maker’s stock valued at $876,000 after acquiring an additional 8,927 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in RF Industries by 2.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 100,256 shares of the electronics maker’s stock valued at $676,000 after acquiring an additional 2,200 shares in the last quarter. 33.53% of the stock is owned by institutional investors.
Shares of NASDAQ:RFIL traded down $0.25 during midday trading on Friday, reaching $8.50. 83,208 shares of the company’s stock were exchanged, compared to its average volume of 20,353. The firm’s 50 day simple moving average is $7.71 and its two-hundred day simple moving average is $7.47. The stock has a market cap of $81.93 million, a price-to-earnings ratio of 23.03 and a beta of 0.23. RF Industries has a fifty-two week low of $5.14 and a fifty-two week high of $10.49.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, September 27th.
About RF Industries
RF Industries, Ltd., together with its subsidiaries, designs, manufactures, and markets interconnect products and systems in the United States, Canada, Mexico, and internationally. The company's RF Connector and Cable Assembly division designs, manufactures, and distributes coaxial connectors and cable assemblies that are integrated with coaxial connectors.
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