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

Fortescue Ltd (OTCMKTS:FSUGY) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 12,600 shares, a growth 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 presently 0.1 days.

Fortescue Trading Down 0.6 %

Shares of Fortescue stock opened at $32.13 on Friday. The business’s fifty day simple moving average is $33.57 and its 200 day simple moving average is $33.84. Fortescue has a 12 month low of $24.33 and a 12 month high of $39.76.

Fortescue Increases Dividend

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

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.