Manulife Financial Corp June 15th Short Interest Update

Manulife Financial Corp (NYSE:MFC) has witnessed a drop of 8.2% or 900,291 shares in its short figure. The short interest diminution took it from 11,001,609 on May 31,2016 to 10,101,318 on June 15,2016. In terms of floated shares, the short interest was calculated to be 0.5%. The days to cover are 5 given that the daily volume averaged 1,969,779 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Manulife Financial Corp (NYSE:MFC): The stock opened at $13.80 on Friday but the bulls could not build on the opening and the stock topped out at $13.86 for the day. The stock traded down to $13.32 during the day, due to lack of any buying support eventually closed down at $13.34 with a loss of -9.25% for the day. The stock had closed at $14.70 on the previous day. The total traded volume was 5,171,270 shares.

The company shares have dropped -28.59% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $19.11 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $14.36 and the 200 Day Moving Average price is recorded at $14.01.

Manulife Financial Corp (NYSE:MFC) has tumbled 4.44% during the past week and has dropped 10.89% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 2.86%. Manulife Financial Corp (NYSE:MFC) has underperformed the index by 8.19% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Manulife Financial Corp is a Canada-based financial services and life insurance company. The Company offers financial protection and wealth management products and services. It caters to personal and business clients. It also provides asset management services to institutional customers. Its operating segments are Asia, Canadian and U.S. Divisions, and the Corporate and Other segment. Its Asia, Canadian and U.S. Divisions segment offers protection and wealth management services, such as life insurance and individual group long-term care insurance, annuities, pension contracts and mutual fund products and services, retirement products, and deposit and credit products to Canadian customers, among others. The Companys Corporate and Other segment consists of investment performance on assets backing capital, net of amounts allocated to operating division and financing costs, external asset management business, and property and casualty (P&C) reinsurance business, among others.

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