Short Interest in Fortescue Ltd (OTCMKTS:FSUGY) Expands By 302.8%

Fortescue Ltd (OTCMKTS:FSUGY) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 43,100 shares, an increase of 302.8% from the August 15th total of 10,700 shares. Based on an average daily volume of 163,100 shares, the days-to-cover ratio is presently 0.3 days.

Fortescue Stock Performance

Shares of Fortescue stock traded up $0.70 during trading on Thursday, reaching $22.67. The company’s stock had a trading volume of 153,602 shares, compared to its average volume of 61,630. Fortescue has a one year low of $21.11 and a one year high of $39.76. The stock has a 50-day moving average price of $25.49 and a two-hundred day moving average price of $30.28.

Fortescue Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, October 4th. Investors of record on Monday, September 9th will be given a $1.1851 dividend. The ex-dividend date of this dividend is Monday, September 9th.

About Fortescue

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.