Fortescue Ltd (OTCMKTS:FSUGY) Sees Large Increase in Short Interest

Fortescue Ltd (OTCMKTS:FSUGY) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 32,700 shares, an increase of 271.6% from the July 15th total of 8,800 shares. Based on an average daily trading volume, of 164,300 shares, the days-to-cover ratio is currently 0.2 days.

Fortescue Stock Up 0.6 %

Fortescue stock traded up $0.14 during mid-day trading on Tuesday, hitting $24.27. 167,047 shares of the stock were exchanged, compared to its average volume of 51,459. Fortescue has a 12 month low of $22.12 and a 12 month high of $39.76. The firm’s fifty day simple moving average is $28.48 and its two-hundred day simple moving average is $32.40.

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.