Paramount Global (NASDAQ:PARAP – Get Rating) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 321,800 shares, a drop of 38.4% from the October 15th total of 522,800 shares. Based on an average daily volume of 55,500 shares, the short-interest ratio is currently 5.8 days.
Hedge Funds Weigh In On Paramount Global
Several large investors have recently modified their holdings of the stock. McIlrath & Eck LLC bought a new position in Paramount Global during the third quarter worth $31,000. Signaturefd LLC bought a new position in shares of Paramount Global in the 3rd quarter worth about $62,000. UBS Group AG bought a new position in shares of Paramount Global in the 3rd quarter worth about $62,000. Raymond James & Associates acquired a new position in shares of Paramount Global in the 3rd quarter valued at about $209,000. Finally, Gamco Investors INC. ET AL bought a new stake in shares of Paramount Global during the 3rd quarter valued at about $230,000.
Paramount Global Price Performance
NASDAQ PARAP traded up $1.80 during mid-day trading on Friday, reaching $28.22. 400 shares of the company’s stock traded hands, compared to its average volume of 64,425. Paramount Global has a 1-year low of $25.25 and a 1-year high of $62.35. The company has a fifty day simple moving average of $31.70 and a 200-day simple moving average of $38.36.
Paramount Global Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th will be given a $1.4375 dividend. This represents a $5.75 annualized dividend and a dividend yield of 20.38%. The ex-dividend date of this dividend is Wednesday, December 14th.
About Paramount Global
Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Showtime, BET, Nickelodeon, MTV, Comedy Central, Paramount Network, Smithsonian Channel, and CBS Sports Network.
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