Golden Ocean Group Limited June 15th Short Interest Update

Golden Ocean Group Limited (NASDAQ:GOGL) stated loss of 53,266 shares or 1.8% in the short interest. The short interest registered from 2,936,536 on May 31,2016 to 2,883,270 on June 15,2016. In terms of floated shares, the shorted positions stood at 1%. The stock has been averaging 119,173 shares daily in trading and would need 24 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Golden Ocean Group Limited (NASDAQ:GOGL): The stock opened at $0.73 on Friday but the bulls could not build on the opening and the stock topped out at $0.76 for the day. The stock traded down to $0.67 during the day, due to lack of any buying support eventually closed down at $0.72 with a loss of -10.40% for the day. The stock had closed at $0.80 on the previous day. The total traded volume was 6,049,908 shares.

The company shares have dropped -81.77% from its 1 Year high price. On Jul 21, 2015, the shares registered one year high at $4.63 and the one year low was seen on Feb 24, 2016. The 50-Day Moving Average price is $0.73 and the 200 Day Moving Average price is recorded at $0.78.

Stocks of Golden Ocean Group Limited (NASDAQ:GOGL) rallied by 0.96% during the past week but lost 6.74% on a 4-week basis. The company has outperformed the S&P 500 by 2.63% in the past week but underperformed the index by 3.92% in the last 4 weeks.

Golden Ocean Group Limited, formerly Knightsbridge Shipping Limited, is an international shipping company. The Company is engaged in the transportation of dry bulk cargoes. As of March 31, 2015, it owned 47 vessels and has 25 new buildings under construction. In addition, it has four vessels chartered-in and one vessel owned through a joint venture. Six of the vessels are chartered out on fixed rate time charters and the remainders operate in the spot market or are fixed on index-linked time charter contract. As of March 31, 2015, the Company owned 18 Capesize dry bulk carriers, of which three were on index-related time charters and 15 were operating in the spot market. The Companys 181,000 dead weight tons Capesize vessels include KSL Salvador, KSL San Francisco, KSL Santiago, KSL Seattle, KSL Seville, KSL Sapporo and KSL Stockholm, among others. Its 180,000 dead weight tons Capesize newbuildings include KSL Aso, KSL Barnet, KSL Finsbury, KSL Shanghai and KSL Bexley, among others.

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