Canopy Growth Corp Sees Significant Drop in Short Interest Canopy Growth Corp (NYSE:CGC) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 39,640,000 shares, a drop of 11.4% from the March 15th total of 44,764,700 shares. Based on an average trading volume of 7,760,000 shares, the days-to-cover ratio is presently 5.1 days. Currently, 18.1% of the company’s shares are sold short.
A number of institutional investors have recently added to or reduced their stakes in the stock. Wealth Quarterback LLC purchased a new stake in Canopy Growth during the 4th quarter worth $13,803,510,000. Renaissance Technologies LLC increased its position in shares of Canopy Growth by 62.0% in the 4th quarter. Renaissance Technologies LLC now owns 827,700 shares of the marijuana producer’s stock worth $17,418,000 after purchasing an additional 316,800 shares during the last quarter. Korea Investment CORP increased its position in shares of Canopy Growth by 8.9% in the 4th quarter. Korea Investment CORP now owns 481,400 shares of the marijuana producer’s stock worth $10,153,000 after purchasing an additional 39,300 shares during the last quarter. Lido Advisors LLC increased its position in shares of Canopy Growth by 0.3% in the 4th quarter. Lido Advisors LLC now owns 380,756 shares of the marijuana producer’s stock worth $8,030,000 after purchasing an additional 1,096 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in shares of Canopy Growth by 4.0% in the 4th quarter. Toronto Dominion Bank now owns 353,728 shares of the marijuana producer’s stock worth $7,445,000 after purchasing an additional 13,749 shares during the last quarter. 10.56% of the stock is currently owned by hedge funds and other institutional investors.
https://theenterpriseleader.com/2020/04/20/canopy-growth-corp-nysecgc-sees-significant-drop-in-short-interest.html