Shares are trading at $4.20 significantly above the 50 day moving average of $3.14 and which is quite a bit below the 200 day moving average of $62.60. The 50 day moving average was up $1.06 or +33.56% and the 200 day average went down by -93.29%. 5,178K shares changed hands in the last trading session. Shares saw a steep decrease in trading volume of 23.74% under the normal average daily volume.
Traders are more bearish on shares of DryShips Inc. lately as indicated by the motion in short interest. The company realized a rise in short interest from September 29, 2017 to October 13, 2017 of 20.98%. Short shares grew from 3,001,673 to 3,631,344 over that period. The days to cover decreased to 1.0 and the percentage of shorted shares was 1.81% on October 13.
A few notable investment firms have updated their holdings. Norges Bank divested its ownership by shedding 61,687 shares a decrease of 89.8% in the quarter. Norges Bank now holds 7,015 shares worth $4,000. The value of the position overall is down by 97.5%.
The company is so far trading down by 2.33% since yesterday’s close of $4.20. DryShips Inc. recently announced a dividend for shareholders payable on Tuesday November 14th, 2017. The dividend payment will be $0.025 per share for the quarter or $0.10 on an annualized basis. This dividend amount will represent a yield of $2.00. The ex-dividend date is as of Thursday the 26th of October 2017.
DryShips, Inc., launched on October 9, 2004, is a holding company. The Company owns drybulk carriers and offshore support vessels. The Company operates through two segments: the drybulk carrier and the offshore support. Under its drybulk segment, the Company operates as a provider of drybulk commodities transportation services for the steel, electric utility, construction and agri-food industries. Under its offshore support segment, the Company operates as a provider of offshore support services to the global offshore energy industry. The Company owns a fleet of approximately 20 Panamax drybulk carriers, which have a combined deadweight tonnage (dwt) of approximately 1.5 million dwt and an average age of approximately 10 years, and six offshore supply vessels, comprising over two platform supply and four oil spill recovery vessels and have an average age of approximately 3.1 years..Advertisement