Fortescue Ltd (OTCMKTS:FSUGY) Sees Significant Growth in Short Interest

Fortescue Ltd (OTCMKTS:FSUGY) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 12,600 shares, an increase of 186.4% from the March 31st total of 4,400 shares. Based on an average trading volume of 92,600 shares, the days-to-cover ratio is currently 0.1 days.

Fortescue Price Performance

Fortescue stock opened at $32.13 on Friday. Fortescue has a twelve month low of $24.33 and a twelve month high of $39.76. The company’s 50-day moving average price is $33.57 and its two-hundred day moving average price is $33.84.

Fortescue Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Monday, March 4th were issued a dividend of $1.3952 per share. The ex-dividend date was Friday, March 1st. This is a boost from Fortescue’s previous dividend of $1.27. This represents a dividend yield of 7.34%.

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.