Fortescue Ltd (OTCMKTS:FSUMF) Sees Significant Drop in Short Interest

Fortescue Ltd (OTCMKTS:FSUMF) saw a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 3,199,600 shares, a drop of 14.7% from the October 31st total of 3,751,900 shares. Based on an average daily trading volume, of 4,400 shares, the days-to-cover ratio is presently 727.2 days.

Fortescue Stock Performance

OTCMKTS FSUMF traded down $0.01 during trading on Monday, reaching $12.30. The company’s stock had a trading volume of 27,272 shares, compared to its average volume of 9,648. The firm has a 50 day moving average price of $12.86 and a 200 day moving average price of $13.52. Fortescue has a 12 month low of $10.40 and a 12 month high of $19.90.

Fortescue Company Profile

Fortescue Ltd engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. It explores for copper, gold, and lithium deposits; and rare earth elements. The company owns and operates the Chichester Hub that includes the Cloudbreak and Christmas Creek mines located in the Chichester ranges; and the Solomon Hub comprising the Firetail, Kings Valley, and Queens Valley mines located in the Hamersley ranges of Pilbara, Western Australia.