Julius Bär Gruppe AG (OTCMKTS:JBAXY) Shares Shorted: Short Interest Down 85.4% in October

Julius Bär Gruppe AG (OTCMKTS:JBAXY) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 42,845 shares, a drop of 85.4% from the September 30th total of 292,959 shares. Based on an average daily trading volume, of 155,250 shares, the days-to-cover ratio is currently 0.3 days.

Julius Bär Gruppe Stock Up 1.6%

Shares of OTCMKTS JBAXY traded up $0.27 during midday trading on Thursday, reaching $16.82. The stock had a trading volume of 43,147 shares, compared to its average volume of 104,677. Julius Bär Gruppe has a twelve month low of $13.16 and a twelve month high of $18.93. The company’s 50 day moving average price is $17.65 and its 200 day moving average price is $16.89.

Julius Bär Gruppe announced that its board has initiated a share buyback program on Friday, October 2nd that permits the company to repurchase shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Share repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

About Julius Bär Gruppe

Julius Bär Gruppe AG is a Swiss private banking group headquartered in Zurich. Founded in 1890, the company focuses on wealth management and serves private clients, entrepreneurs, family offices and selected institutional clients.

Its services include investment advisory and discretionary portfolio management, wealth planning, financing and lending, securities and foreign-exchange services, and access to structured products and other investment solutions. Julius Baer’s offerings are designed to address clients’ investment, succession-planning and broader wealth-management needs.

The group serves clients through a network spanning Switzerland, Europe, the Americas, Asia-Pacific and the Middle East.