Short Interest in Fortescue Ltd (OTCMKTS:FSUMF) Drops By 14.7%

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

Fortescue Price Performance

FSUMF traded down $0.01 during trading hours on Monday, hitting $12.30. 27,272 shares of the company’s stock were exchanged, compared to its average volume of 9,648. Fortescue has a 12-month low of $10.40 and a 12-month high of $19.90. The firm has a 50 day moving average of $12.86 and a 200 day moving average of $13.56.

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.