Glencore plc (OTCMKTS:GLCNF) Sees Large Decrease in Short Interest

Glencore plc (OTCMKTS:GLCNF) was the target of a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 740,379 shares, a decline of 69.4% from the April 15th total of 2,421,698 shares. Based on an average daily volume of 967,977 shares, the days-to-cover ratio is presently 0.8 days.

Glencore Trading Down 1.4%

GLCNF stock traded down $0.12 during trading on Thursday, reaching $7.94. The stock had a trading volume of 15,510 shares, compared to its average volume of 184,123. Glencore has a one year low of $3.48 and a one year high of $8.12. The company’s 50 day moving average is $7.35 and its two-hundred day moving average is $6.29.

About Glencore

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.