National Bank of Greece (ADR) Short Interest Climbs by 30.4%
February 11, 2015 by Joe Willams

National Bank of Greece (ADR) (NYSE:NBG) stated gains of 6,089,898 shares or 30.4% in the short interest. The short interest registered from 20,046,705 on January 15,2015 to 26,136,603 on January 30,2015. In terms of floated shares, the shorted positions stood at 0.7%. The stock has been averaging 12,824,822 shares daily in trading and would need 2 days to cover the shorts.

NBG witnessed volatile trading session. In a positive session, National Bank of Greece (ADR) (NYSE:NBG) jumped 16.07% or 0.18 points. In a volatile session, heavy trading was seen as the volume of shares shot up to 27,284,352 shares. The day did not belong to bulls throughout as the stock crashed to $1.2099 after opening at $1.21. However, the bears were soon scurrying for cover as the stock staged a smart recovery and closed at $1.3. The previous close of share price is $1.12. The 52-week high of the counter is $5.83 and the 52-week low is $0.98. The company has a market cap of $4,593 million.

Shares of National Bank of Greece (ADR) (NYSE:NBG) appreciated by 10% during the past week but lost 22.93% on a 4-week basis. The shares have outperformed the S&P 500 by 6.76% in the past week but underperformed the index by 23.33% in the past 4 weeks.

National Bank of Greece SA (the Bank) is a Greece-based financial institution. It provides a range of financial services including retail and commercial banking, asset management, brokerage, investment banking, insurance and real estate at a global level. Its segments are: Retail Banking, which mainly offers different types of loans, deposits and investment products; Corporate and Investment Banking, which includes financial and investment advisory services, deposit accounts, loans, foreighn exchange and trade service activities; Global Markets and Asset Management, which includes all treasury activities, private banking, asset management, custody services, private equity and brokerage; Insurance; International Banking Operations; Turkish Banking Operations, as well as Other. In September 2013, state-owned Hellenic Financial Stability Fund acquired an 84.39% interest in the Company. On December 30, 2013, it sold a 66% of its subsidiary National Pangaea REIC to Invel Real Estate II BV.