Short Interest in Global Self Storage Inc (NASDAQ:SELF) Grows By 188.0%

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Global Self Storage Inc (NASDAQ:SELF) was the recipient of a significant increase in short interest in the month of March. As of March 13th, there was short interest totalling 7,200 shares, an increase of 188.0% from the February 27th total of 2,500 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 24,000 shares, the days-to-cover ratio is presently 0.3 days.

SELF stock traded up $0.21 during midday trading on Thursday, hitting $3.59. The stock had a trading volume of 3,210 shares, compared to its average volume of 18,527. The firm has a market capitalization of $25.43 million, a price-to-earnings ratio of 44.88 and a beta of 0.48. Global Self Storage has a 52 week low of $2.65 and a 52 week high of $4.95. The stock has a 50-day simple moving average of $4.04 and a 200 day simple moving average of $4.33. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.01.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a $0.065 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.26 annualized dividend and a yield of 7.24%.

SELF has been the subject of several research reports. Aegis initiated coverage on Global Self Storage in a research report on Thursday, February 27th. They issued a “buy” rating and a $5.00 target price for the company. ValuEngine cut Global Self Storage from a “hold” rating to a “sell” rating in a research report on Wednesday, March 11th.

A number of hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. bought a new position in Global Self Storage in the fourth quarter worth $65,000. Renaissance Technologies LLC raised its stake in Global Self Storage by 53.8% during the fourth quarter. Renaissance Technologies LLC now owns 58,000 shares of the financial services provider’s stock worth $249,000 after acquiring an additional 20,295 shares in the last quarter. Geode Capital Management LLC raised its stake in Global Self Storage by 36.0% during the fourth quarter. Geode Capital Management LLC now owns 101,779 shares of the financial services provider’s stock worth $437,000 after acquiring an additional 26,930 shares in the last quarter. Raffles Associates LP acquired a new position in Global Self Storage during the fourth quarter worth $269,000. Finally, Winmill & CO. Inc. raised its stake in Global Self Storage by 130.7% during the fourth quarter. Winmill & CO. Inc. now owns 429,579 shares of the financial services provider’s stock worth $1,848,000 after acquiring an additional 243,372 shares in the last quarter. 17.95% of the stock is owned by hedge funds and other institutional investors.

Global Self Storage Company Profile

Global Self Storage, Inc is a self-administered and self-managed REIT that owns, operates, manages, acquires, develops and redevelops self storage properties in the United States. The Company's self storage properties are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers.

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