Fortescue Ltd (OTCMKTS:FSUMF) Sees Large Decrease in Short Interest

Fortescue Ltd (OTCMKTS:FSUMF) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 9,982,000 shares, a decline of 7.7% from the March 15th total of 10,810,900 shares. Based on an average daily trading volume, of 9,600 shares, the short-interest ratio is presently 1,039.8 days.

Fortescue Price Performance

Shares of FSUMF traded down $0.75 during mid-day trading on Tuesday, hitting $16.20. 2,140 shares of the company’s stock traded hands, compared to its average volume of 3,390. Fortescue has a 1 year low of $11.97 and a 1 year high of $19.90. The business’s 50-day moving average price is $17.24 and its 200-day moving average price is $16.81.

Fortescue Dividend Announcement

The company also recently announced a dividend, which was paid on Wednesday, March 27th. Shareholders of record on Thursday, February 29th were given a $1.08 dividend. This represents a yield of 7.38%. The ex-dividend date was Wednesday, February 28th. Fortescue’s payout ratio is currently 21.45%.

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.