Manulife Financial Co. (NYSE:MFC) Short Interest Up 42.1% in January

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 11,180,000 shares, an increase of 42.1% from the January 15th total of 7,870,000 shares. Based on an average trading volume of 2,050,000 shares, the days-to-cover ratio is presently 5.5 days. Currently, 0.6% of the company’s shares are sold short.

Institutional Investors Weigh In On Manulife Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in MFC. Brooklyn Investment Group purchased a new stake in Manulife Financial in the 3rd quarter valued at about $26,000. Crews Bank & Trust purchased a new stake in Manulife Financial in the fourth quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new position in Manulife Financial during the third quarter worth approximately $30,000. Fortitude Family Office LLC purchased a new position in Manulife Financial during the third quarter worth approximately $31,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Manulife Financial in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

MFC stock traded up $0.03 during midday trading on Friday, hitting $29.67. The stock had a trading volume of 1,150,869 shares, compared to its average volume of 1,887,462. The company’s 50-day moving average price is $30.42 and its 200 day moving average price is $29.61. The firm has a market cap of $51.13 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 1.04 and a beta of 1.09. Manulife Financial has a 12-month low of $22.61 and a 12-month high of $33.07.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.