Short Interest in Grupo Financiero Banorte, S.A.B. de C.V. (OTCMKTS:GBOOF) Declines By 34.2%

Grupo Financiero Banorte, S.A.B. de C.V. (OTCMKTS:GBOOF) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 1,490,000 shares, a drop of 34.2% from the February 13th total of 2,263,500 shares. Based on an average trading volume of 12,100 shares, the days-to-cover ratio is currently 123.1 days.

Grupo Financiero Banorte Price Performance

Shares of OTCMKTS GBOOF traded up $0.58 during mid-day trading on Friday, reaching $7.62. 3,949 shares of the company traded hands, compared to its average volume of 39,065. Grupo Financiero Banorte has a fifty-two week low of $6.10 and a fifty-two week high of $11.29. The stock has a fifty day simple moving average of $7.18 and a 200-day simple moving average of $7.10.

About Grupo Financiero Banorte

Grupo Financiero Banorte, SAB. de C.V., through its subsidiaries, engages in the provision of banking and financial products and services in Mexico and internationally. The company accepts checking, current, retirement, and payroll accounts; and provides loans, including mortgage, car, payroll, personal, structured, syndicated, SME loans, and credit cards, as well as letter of credit financing, acquisition funding, and import and export foreign trade financing.