Universal Music Group (OTCMKTS:UNVGY) Sees Significant Increase in Short Interest

Universal Music Group (OTCMKTS:UNVGY) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 1,063,839 shares, an increase of 911.4% from the August 31st total of 105,180 shares. Based on an average trading volume of 1,823,413 shares, the days-to-cover ratio is presently 0.6 days.

Universal Music Group Price Performance

Universal Music Group stock traded down $0.09 during midday trading on Thursday, hitting $8.21. 656,018 shares of the stock were exchanged, compared to its average volume of 802,208. The stock’s 50-day simple moving average is $8.90 and its 200 day simple moving average is $10.09. Universal Music Group has a fifty-two week low of $8.01 and a fifty-two week high of $14.87.

About Universal Music Group

Universal Music Group (OTCMKTS: UNVGY) is a leading global music company that operates across the recorded music, music publishing, and merchandising sectors. The company signs, develops, and manages artists and songwriters, producing and distributing sound recordings and music videos. It holds a diverse catalogue spanning all major genres, representing both established superstars and emerging talent through renowned labels such as Interscope Geffen A&M, Capitol Music Group, Def Jam Recordings and Decca Records.

In its recorded music division, Universal Music Group collaborates with artists to create and market new releases, overseeing physical and digital distribution, licensing, and promotional activities.