Rio Tinto Group (OTCMKTS:RTNTF) Sees Significant Drop in Short Interest

by · The Cerbat Gem

Rio Tinto Group (OTCMKTS:RTNTF – Get Free Report) was the target of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 74,661 shares, a decrease of 53.8% from the September 30th total of 161,452 shares. Based on an average trading volume of 114 shares, the days-to-cover ratio is currently 654.9 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Rio Tinto Group stock. Pin Oak Investment Advisors Inc. bought a new stake in shares of Rio Tinto Group (OTCMKTS:RTNTF – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,133 shares of the company’s stock, valued at approximately $108,000. Hedge funds and other institutional investors own 4.35% of the company’s stock.

Rio Tinto Group Stock Up 3.4%

RTNTF stock opened at $105.29 on Friday. Rio Tinto Group has a 12 month low of $81.39 and a 12 month high of $133.85. The company has a 50-day moving average price of $117.29 and a 200 day moving average price of $117.20.

About Rio Tinto Group

(Get Free Report)

Rio Tinto Group is a global mining and metals company with operations and projects spanning multiple continents. The group explores for, develops, mines, processes and markets mineral resources used in construction, manufacturing, transportation, energy and consumer products.

Its principal products include iron ore, aluminum, copper, lithium, diamonds, borates and titanium dioxide feedstocks. Rio Tinto’s aluminum business covers bauxite mining, alumina refining and aluminum smelting, while its copper and lithium activities support growing demand from electrification, renewable energy and battery-related applications.

Rio Tinto traces its history to the development of the Rio Tinto copper mines in Spain in the 19th century and has since expanded into a diversified international mining group.

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