Fortescue Ltd (OTCMKTS:FSUGY) Short Interest Up 302.8% in August

Fortescue Ltd (OTCMKTS:FSUGY) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 43,100 shares, a growth of 302.8% from the August 15th total of 10,700 shares. Based on an average daily volume of 163,100 shares, the days-to-cover ratio is currently 0.3 days.

Fortescue Stock Performance

FSUGY stock traded up $0.88 during midday trading on Friday, reaching $23.55. The stock had a trading volume of 112,339 shares, compared to its average volume of 61,916. The firm has a fifty day simple moving average of $25.35 and a two-hundred day simple moving average of $30.19. Fortescue has a 52-week low of $21.11 and a 52-week high of $39.76.

Fortescue Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, October 4th. Investors of record on Monday, September 9th will be issued a $1.1851 dividend. The ex-dividend date is Monday, September 9th.

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.