Short Interest in Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) Drops By 24.5%

Sumitomo Electric Industries, Ltd. (OTCMKTS:SMTOY) was the recipient of a large drop in short interest in June. As of June 15th, there was short interest totalling 14,500 shares, a drop of 24.5% from the May 31st total of 19,200 shares. Based on an average daily volume of 20,000 shares, the short-interest ratio is currently 0.7 days.

Sumitomo Electric Industries Stock Performance

OTCMKTS SMTOY traded up $0.09 during mid-day trading on Monday, hitting $15.58. The stock had a trading volume of 5,200 shares, compared to its average volume of 11,081. Sumitomo Electric Industries has a 52-week low of $10.24 and a 52-week high of $17.60. The company has a 50 day simple moving average of $15.74 and a 200 day simple moving average of $14.69.

About Sumitomo Electric Industries

Sumitomo Electric Industries, Ltd. manufactures and sells electric wires and cables worldwide. It operates through Automotive, Infocommunications, Electronics, Environment and Energy, and Industrial Materials and Others segments. The company offers wiring harnesses and electrical components; steel cords for tire reinforcement; steel wires for springs; wiring materials; optical lenses for infrared devices; abrasion-resistant parts/materials; heat shrink and heat-resistant tubing/tapes; magnet and aluminum bars/wires; products for electronic devices; sintered parts; and EV quick-charger connector assemblies.