Cathay Pacific Airways Ltd. experienced a notable increase in short interest in September 2023, with the total reaching 300 shares by September 30. This marks a significant rise of 50% from the 200 shares recorded on September 15. Given an average daily trading volume of 4,800 shares, the current short-interest ratio stands at just 0.1 days, indicating a relatively low level of short selling activity compared to the company’s overall trading volume.
Stock Performance and Dividend Announcement
As of the latest trading on Thursday, Cathay Pacific’s stock opened at $6.89. The company’s performance shows a fifty-day moving average of $6.84 and a two-hundred-day moving average of $6.66. Over the past year, shares have traded between a low of $5.01 and a high of $7.79.
In addition to the increase in short interest, Cathay Pacific announced a dividend of $0.1074 per share, which was paid on October 20, 2023. The dividend yield is notably high at 573.0%, reflecting the company’s commitment to returning value to shareholders. The ex-dividend date was set for September 4, 2023, with record investors on September 5, 2023 eligible for the payout.
About Cathay Pacific Airways
Cathay Pacific Airways Limited, along with its subsidiaries, provides international passenger and air cargo transportation services primarily centered around Hong Kong. Beyond its core airline operations, the company is involved in various sectors, including property investment and travel rewards programs. Additionally, Cathay Pacific functions as a travel tour operator and offers services such as aircraft acquisition facilitation, airline catering, ground handling, and cargo terminal operations.
As Cathay Pacific continues to navigate the complexities of the aviation market, the recent changes in short interest and the strategic dividend payout highlight the company’s ongoing efforts to enhance shareholder value while managing market dynamics effectively.
