Glencore plc (OTCMKTS:GLCNF) Sees Significant Drop in Short Interest

Glencore plc (OTCMKTS:GLCNF) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 681,691 shares, a decline of 44.7% from the June 15th total of 1,233,147 shares. Based on an average trading volume of 50,945 shares, the days-to-cover ratio is presently 13.4 days.

Glencore Trading Down 0.1%

Shares of OTCMKTS:GLCNF traded down $0.01 during trading on Friday, hitting $6.92. 11,329 shares of the company were exchanged, compared to its average volume of 156,126. Glencore has a 52-week low of $3.74 and a 52-week high of $8.30. The stock has a 50 day moving average of $7.43 and a 200 day moving average of $7.10.

Glencore Company Profile

Glencore plc is a global leader in the production, marketing and trading of commodities. Through its diversified portfolio, the company operates in two principal segments: Metals & Minerals, and Energy Products. In Metals & Minerals, Glencore produces and trades a wide array of industrial metals, including copper, zinc, nickel, cobalt, lead, aluminum, iron ore and coal. Its Energy Products segment encompasses the sourcing, storage and distribution of crude oil, refined products, natural gas and liquefied petroleum gas, while also managing a significant agricultural trading business that handles grains, oilseeds and sugar.

Founded in 1974 by Marc Rich as Marc Rich + Co International, the company rebranded to Glencore in 1994 and has since expanded through both organic growth and strategic acquisitions.