Inovalis Real Estate Investment Trust (OTCMKTS:IVREF) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 400 shares, a drop of 98.0% from the August 15th total of 20,300 shares. Based on an average trading volume of 800 shares, the days-to-cover ratio is presently 0.5 days.
Shares of OTCMKTS:IVREF remained flat at $$7.57 during trading on Wednesday. 27 shares of the stock traded hands, compared to its average volume of 1,657. The company has a 50 day simple moving average of $7.69 and a 200-day simple moving average of $7.87. Inovalis Real Estate Investment Trust has a 52-week low of $5.46 and a 52-week high of $8.45.
Separately, BMO Capital Markets raised their price target on shares of Inovalis Real Estate Investment Trust from C$9.50 to C$10.00 and gave the company a “market perform” rating in a report on Wednesday, June 9th.
Inovalis Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT has been created for the purpose of acquiring and owning office properties primarily located in France and Germany but also opportunistically in other European countries where assets meet the REIT's investment criteria.
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