DryShips Inc. (NASDAQ:DRYS) Closed Much Higher Than Its 50 Day Moving Average

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Company shares are trading at $3.83 which is quite a bit above the 50 day moving average which is $2.79 and which is quite a bit lower than the 200 day moving average of $82.74. The 50 day moving average went up by +37.15% and the 200 day average went down by -95.37%. DryShips Inc. shares had a trading volume of 9,070K on Tuesday. Overall, volume was up 249.43% over the stocks normal daily volume.

Short traders are more bullish recently looking at the decrease in short interest. The company recorded a fall in short interest of -9.50% as of the latest report on September 29, 2017. Short shares fell 315,207 over that period. Days to cover increased from 1.0 to 2.0 and the percentage of shorted shares was 1.50% on September 29.

Here are a few substantial investment firms who have updated their positions. As of the end of the quarter Norges Bank had disposed of a total of 61,687 shares trimming its stake by 89.8%. The value of the investment in DryShips Inc. decreased from $161,000 to $4,000 a change of $157,000 since the last quarter.

The company is now up from yesterday’s close of 3.61. Additionally the company announced a dividend for shareholders payable on Tuesday the 14th of November 2017. The dividend will be $0.025 per share for the quarter which is $0.10 annualized. The dividend yield will be $3.05. The ex-dividend date will be Tuesday July 18th, 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..

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