Short Interest in China Construction Bank Co. (OTCMKTS:CICHF) Drops By 69.0%

China Construction Bank Co. (OTCMKTS:CICHF) was the recipient of a large drop in short interest in May. As of May 29th, there was short interest totaling 2,458,633 shares, a drop of 69.0% from the May 14th total of 7,938,541 shares. Based on an average trading volume of 103,765 shares, the days-to-cover ratio is presently 23.7 days.

China Construction Bank Price Performance

CICHF traded up $0.05 on Thursday, reaching $1.15. The company had a trading volume of 1,793 shares, compared to its average volume of 90,703. China Construction Bank has a 1 year low of $0.89 and a 1 year high of $1.31. The stock has a 50-day moving average price of $1.09 and a 200-day moving average price of $1.03.

About China Construction Bank

China Construction Bank Corporation (OTCMKTS:CICHF) is one of the largest commercial banks in China, offering a comprehensive range of financial products and services. Its core business activities include corporate banking, personal banking, and treasury operations. The bank provides lending solutions, deposit accounts, trade financing, cash management, and foreign exchange services to meet the needs of governments, state-owned enterprises, multinational corporations, small and medium-sized enterprises, and individual customers.

Founded in 1954 and restructured as a joint-stock commercial bank in 1996, China Construction Bank has grown into a key player in China’s banking sector, ranking among the country’s “Big Four” state-owned banks.