Fortescue Ltd (OTCMKTS:FSUMF) Sees Significant Increase in Short Interest

Fortescue Ltd (OTCMKTS:FSUMF) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 7,282,400 shares, an increase of 8.9% from the August 31st total of 6,686,000 shares. Based on an average daily volume of 33,300 shares, the short-interest ratio is presently 218.7 days.

Fortescue Price Performance

OTCMKTS:FSUMF opened at $14.15 on Tuesday. The stock has a 50 day simple moving average of $12.24 and a 200 day simple moving average of $14.80. Fortescue has a 1-year low of $10.40 and a 1-year high of $19.90.

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.