Short Interest in Mechel PAO (NYSE:MTL) Declines By 21.5%

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Mechel PAO (NYSE:MTL) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totalling 230,900 shares, a decline of 21.5% from the March 31st total of 294,000 shares. Based on an average daily volume of 171,600 shares, the short-interest ratio is currently 1.3 days.

A number of institutional investors and hedge funds have recently made changes to their positions in MTL. BlackRock Inc. raised its position in Mechel PAO by 2.9% during the fourth quarter. BlackRock Inc. now owns 1,949,160 shares of the basic materials company’s stock valued at $3,996,000 after purchasing an additional 54,812 shares in the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of Mechel PAO by 158.7% during the fourth quarter. Koshinski Asset Management Inc. now owns 38,798 shares of the basic materials company’s stock worth $383,000 after buying an additional 23,798 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Mechel PAO in the third quarter valued at $28,000. Institutional investors and hedge funds own 3.78% of the company’s stock.

MTL traded down $0.06 during trading on Tuesday, hitting $1.98. 48,395 shares of the stock traded hands, compared to its average volume of 194,265. Mechel PAO has a twelve month low of $1.29 and a twelve month high of $2.57. The business has a 50 day moving average price of $1.83 and a 200 day moving average price of $1.78.

About Mechel PAO

Mechel PAO, together with its subsidiaries, engages in mining, steel, and power businesses in Russia, Asia, Europe, the Commonwealth of Independent States, the Middle East, the United States, and internationally. Its Mining segment produces and sells coking, metallurgical, and steam coal; coke; chemical products, including coal tar, coal benzene, and other compounds; and iron ore and iron ore concentrates.

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