Fortescue Ltd (OTCMKTS:FSUMF) Short Interest Up 19.0% in July

Fortescue Ltd (OTCMKTS:FSUMF) saw a large increase in short interest in July. As of July 31st, there was short interest totalling 9,479,100 shares, an increase of 19.0% from the July 15th total of 7,968,600 shares. Based on an average daily trading volume, of 13,400 shares, the short-interest ratio is presently 707.4 days.

Fortescue Price Performance

Shares of OTCMKTS FSUMF opened at $11.55 on Friday. The stock’s 50-day moving average is $13.86 and its 200 day moving average is $16.07. Fortescue has a 1-year low of $10.65 and a 1-year 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.