BAE Systems plc (OTCMKTS:BAESY) Short Interest Down 61.4% in September

BAE Systems plc (OTCMKTS:BAESY) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 7,800 shares, a drop of 61.4% from the September 15th total of 20,200 shares. Based on an average trading volume of 537,000 shares, the days-to-cover ratio is presently 0.0 days.

BAE Systems Stock Performance

BAE Systems stock opened at $66.31 on Friday. The business has a 50-day simple moving average of $68.33 and a 200 day simple moving average of $68.16. BAE Systems has a 52 week low of $51.15 and a 52 week high of $72.81.

BAE Systems Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, December 9th. Stockholders of record on Friday, October 25th will be issued a dividend of $0.6333 per share. The ex-dividend date is Friday, October 25th.

Institutional Investors Weigh In On BAE Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Confluence Investment Management LLC purchased a new stake in shares of BAE Systems during the 2nd quarter valued at $682,000. GAMMA Investing LLC raised its position in BAE Systems by 16.4% during the first quarter. GAMMA Investing LLC now owns 1,548 shares of the aerospace company’s stock valued at $107,000 after purchasing an additional 218 shares in the last quarter. Rhumbline Advisers lifted its stake in BAE Systems by 29.3% during the second quarter. Rhumbline Advisers now owns 4,593 shares of the aerospace company’s stock worth $307,000 after purchasing an additional 1,042 shares during the last quarter. Finally, Atlas Capital Advisors LLC boosted its holdings in shares of BAE Systems by 68.9% in the 2nd quarter. Atlas Capital Advisors LLC now owns 4,044 shares of the aerospace company’s stock worth $270,000 after purchasing an additional 1,650 shares in the last quarter. 0.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Citigroup raised shares of BAE Systems from a “neutral” rating to a “buy” rating in a report on Monday, July 29th.

About BAE Systems

BAE Systems plc provides defense, aerospace, and security solutions worldwide. The company operates through five segments: Electronic Systems, Platforms & Services, Air, Maritime, and Cyber & Intelligence. The Electronic Systems segment offers electronic warfare systems, navigation systems, electro-optical sensors, military and commercial digital engine and flight controls, precision guidance and seeker solutions, military communication systems and data links, persistent surveillance capabilities, space electronics, and electric drive propulsion systems.