Short Interest in Melcor Developments Ltd. (OTCMKTS:MODVF) Rises By 300.0%

Melcor Developments Ltd. (OTCMKTS:MODVF) was the target of a large increase in short interest in December. As of December 15th, there was short interest totaling 32 shares, an increase of 300.0% from the November 30th total of 8 shares. Based on an average daily trading volume, of 192 shares, the short-interest ratio is currently 0.2 days. Based on an average daily trading volume, of 192 shares, the short-interest ratio is currently 0.2 days.

Melcor Developments Price Performance

OTCMKTS:MODVF traded up $0.19 during midday trading on Thursday, hitting $11.18. 1,619 shares of the company were exchanged, compared to its average volume of 1,342. Melcor Developments has a fifty-two week low of $8.17 and a fifty-two week high of $11.18. The company has a fifty day simple moving average of $10.68 and a 200 day simple moving average of $10.59.

About Melcor Developments

Melcor Developments Ltd (OTCMKTS: MODVF) is a Canadian real estate development and property management company headquartered in Edmonton, Alberta. The firm specializes in master-planned residential and commercial communities, offering land development, construction, leasing and property management services. Its diversified portfolio encompasses single-family lots, multi-family residential projects, shopping centres, industrial parks and office complexes.

Originally founded in 1923 as a contracting business serving western Canada, Melcor transitioned into land development in the mid-20th century and went public on the Toronto Stock Exchange in 1968.