Fortescue Ltd (OTCMKTS:FSUGY) Short Interest Up 186.4% in April

Fortescue Ltd (OTCMKTS:FSUGY) was the recipient of a significant 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 daily volume of 92,600 shares, the days-to-cover ratio is currently 0.1 days.

Fortescue Stock Performance

Shares of OTCMKTS FSUGY opened at $33.39 on Friday. The firm has a 50 day moving average price of $33.49 and a 200 day moving average price of $33.93. Fortescue has a 52-week low of $24.33 and a 52-week high of $39.76.

Fortescue Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Friday, March 1st. This represents a yield of 7.34%. This is a boost from Fortescue’s previous dividend of $1.27.

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.