AMMO, Inc. (NASDAQ:POWWP) Sees Significant Drop in Short Interest

AMMO, Inc. (NASDAQ:POWWP) was the recipient of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 1,553 shares, a decrease of 67.6% from the February 26th total of 4,787 shares. Based on an average trading volume of 3,454 shares, the days-to-cover ratio is presently 0.4 days.

AMMO Stock Up 1.2%

Shares of NASDAQ POWWP traded up $0.29 during mid-day trading on Thursday, reaching $24.55. The company had a trading volume of 2,165 shares, compared to its average volume of 3,274. AMMO has a one year low of $20.50 and a one year high of $24.75. The business’s 50-day simple moving average is $24.20 and its 200 day simple moving average is $24.14.

AMMO Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Sunday, March 1st were paid a dividend of $0.5469 per share. This represents a $2.19 dividend on an annualized basis and a yield of 8.9%. The ex-dividend date was Friday, February 27th.

About AMMO

AMMO, Inc is a holding company organized in 2019 as a spin-off from Vista Outdoor and trades on the NASDAQ under the ticker POWWP. Through its subsidiaries, the company specializes in the design, manufacturing and marketing of ammunition and propellant powders for commercial, law enforcement and military customers. AMMO, Inc’s primary operating unit, Black Hills Ammunition, offers a range of premium cartridges in common and specialty calibers, while Bridgeport Powder manufactures a portfolio of smokeless propellants.

The company’s products cater to sport shooters, hunters, competitive marksmen and professional users.