Mechel PAO (NYSE:MTL) Short Interest Up 302.8% in August

Mechel PAO (NYSE:MTL) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 286,400 shares, a growth of 302.8% from the August 15th total of 71,100 shares. Based on an average trading volume of 596,800 shares, the short-interest ratio is presently 0.5 days.

Mechel PAO stock opened at $4.13 on Wednesday. Mechel PAO has a twelve month low of $1.29 and a twelve month high of $5.19. The firm has a 50 day moving average price of $2.55 and a 200-day moving average price of $2.18.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Mechel PAO by 2.7% in the 1st quarter. BlackRock Inc. now owns 2,001,574 shares of the basic materials company’s stock worth $3,462,000 after buying an additional 52,414 shares during the period. Marshall Wace LLP boosted its holdings in Mechel PAO by 1,408.4% in the 2nd quarter. Marshall Wace LLP now owns 303,167 shares of the basic materials company’s stock worth $615,000 after buying an additional 283,069 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in Mechel PAO by 133.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 284,654 shares of the basic materials company’s stock worth $578,000 after buying an additional 162,753 shares during the period. Millennium Management LLC bought a new position in Mechel PAO in the 2nd quarter worth approximately $517,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Mechel PAO by 129.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 192,427 shares of the basic materials company’s stock valued at $391,000 after purchasing an additional 108,386 shares during the period. 2.74% of the stock is owned by institutional investors.

About Mechel PAO

Mechel PAO is a holding company, which engages in the mining and production of coal and steel, iron core, and nickel products. It operates through the following business segments: Steel, Mining, and Power. The Steel segment sells semi-finished steel products, long products of a wide range of steel grades, carbon and stainless flat steel products, and high value-added metal products.

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