MEG Energy Corp. (OTCMKTS:MEGEF) Short Interest Up 18.4% in February

MEG Energy Corp. (OTCMKTS:MEGEF) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 13,316,700 shares, an increase of 18.4% from the February 13th total of 11,251,200 shares. Based on an average daily volume of 510,600 shares, the days-to-cover ratio is presently 26.1 days.

MEG Energy Price Performance

OTCMKTS:MEGEF traded up $0.01 during trading hours on Wednesday, hitting $17.21. 112,669 shares of the company traded hands, compared to its average volume of 280,701. MEG Energy has a twelve month low of $13.78 and a twelve month high of $24.59. The firm has a 50-day moving average of $16.27 and a 200 day moving average of $17.45.

MEG Energy Cuts Dividend

The business also recently announced a dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 21st will be paid a dividend of $0.0693 per share. This represents a yield of 1.61%. The ex-dividend date is Thursday, March 20th.

About MEG Energy

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada. The company develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.