CEMIG (NYSE:CIG) Sees Strong Trading Volume

Shares of CEMIG (NYSE:CIGGet Rating) saw unusually-high trading volume on Tuesday . Approximately 104,900 shares were traded during trading, a decline of 98% from the previous session’s volume of 5,153,090 shares.The stock last traded at $1.95 and had previously closed at $2.03.

The company’s 50-day moving average is $2.42 and its two-hundred day moving average is $2.58. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market cap of $4.20 billion, a P/E ratio of 5.24 and a beta of 0.61.

A hedge fund recently raised its stake in CEMIG stock. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of CEMIG (NYSE:CIGGet Rating) by 13.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,358 shares of the utilities provider’s stock after purchasing an additional 4,870 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in CEMIG were worth $98,000 at the end of the most recent reporting period. 2.46% of the stock is owned by institutional investors and hedge funds.

About CEMIG (NYSE:CIG)

Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels.

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