Oi SA (ADR) (NYSE:OIBR) decreased interest rate of hedge funds

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Dallas, Texas 07/16/2013 (Financialstrend) – Oi SA (ADR) (NYSE:OIBR) decreased interest rate of hedge funds. Most investors see hedge funds as outdated investment vehicles and unimportant, but more than 8000 hedge funds are traded in the stock. In the past six-month time frame, the company has seen zero insider sales and zero unique insiders buying. As the technology sector is facing a fall, Oi SA (ADR) (NYSE:OIBR) is also grounded. The technology sector’s 20% losers include Oi SA (ADR). In a report, Oi SA was added as one of the worst 5 small cap stocks along with PharMerica Corporation (NYSE:PMC), Ebix, Inc. (NASDAQ:EBIX), Vantage Drilling Company (NYSEMKT:VTG), National Bank of Greece (ADR) (NYSE:NBG).

Oi SA is a Brazilian company engaged in the telecommunication sector. The company is concentrated initially on the provision of fixed telephony services in the Brazilian states of Mato Grosso do Sul, Acre, Tocantins, Rondonia, Santa Catarina , Goias, Rio Grande do Su and Parana. It also provides a range of integrated telecommunication services, like data transmission, mobile telecommunication services and Internet service provider (ISP) services. The company’s customer base includes residential and corporate customers. Through its subsidiaries, Oi SA operates call centres that include telecommunicating and customer services and provision of payment cards.

Intraday prices were from a low of $1.53 to a high of $1.64. The share price of Oi SA (ADR) (NYSE:OIBR) currently trading at $1.54, decreased by 3.46%. The price range of Oi SA for the past 52 weeks was from $1.44 to $5.05. The stock opened at the price of $1.63 with a market capitalization of $2.51 billion and 1.64 billion outstanding shares. With an institutional ownership of 9%, the trading volume for the day of Oi SA was 2.59 million and the average trading volume amounted to 3.90 million shares.