Fortescue Ltd (OTCMKTS:FSUMF) Short Interest Down 5.4% in October

Fortescue Ltd (OTCMKTS:FSUMF) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 4,465,100 shares, a decrease of 5.4% from the September 30th total of 4,719,700 shares. Based on an average trading volume of 24,100 shares, the short-interest ratio is currently 185.3 days.

Fortescue Stock Performance

FSUMF traded down $0.15 on Thursday, reaching $12.90. 501 shares of the stock were exchanged, compared to its average volume of 8,720. The company’s 50-day moving average price is $12.67 and its 200 day moving average price is $14.29. Fortescue has a fifty-two week low of $10.40 and a fifty-two week high of $19.90.

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.