Sinopec Shanghai Petrochemical Company Limited (OTCMKTS:SPTJF) Sees Large Increase in Short Interest

Sinopec Shanghai Petrochemical Company Limited (OTCMKTS:SPTJF) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 755,789 shares, a growth of 188.5% from the May 31st total of 261,989 shares. Based on an average daily trading volume, of 564 shares, the days-to-cover ratio is presently 1,340.1 days.

Sinopec Shanghai Petrochemical Price Performance

Sinopec Shanghai Petrochemical stock remained flat at $0.15 on Tuesday. 10 shares of the company’s stock were exchanged, compared to its average volume of 22,403. The company’s fifty day moving average is $0.16 and its two-hundred day moving average is $0.17. Sinopec Shanghai Petrochemical has a 52-week low of $0.13 and a 52-week high of $0.21.

Sinopec Shanghai Petrochemical Company Profile

Sinopec Shanghai Petrochemical Company Limited is a leading integrated petrochemical enterprise based in Shanghai, China. Established in the early 1970s as one of the country’s first major refining and petrochemical complexes, it was incorporated in its current listed form in 2000. As a subsidiary of China Petroleum & Chemical Corporation (Sinopec), the company operates one of Asia’s largest single-site oil refining and petrochemical facilities in the Jinshan District of Shanghai.

The company’s core business activities encompass the refining of crude oil into automotive and industrial fuels, as well as the production of a broad range of basic and intermediate petrochemical products.