Short Interest in Melcor Developments Ltd. (OTCMKTS:MODVF) Decreases By 62.8%

Melcor Developments Ltd. (OTCMKTS:MODVF) was the target of a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 627 shares, a decrease of 62.8% from the January 15th total of 1,687 shares. Based on an average trading volume of 1,586 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 1,586 shares, the days-to-cover ratio is currently 0.4 days.

Melcor Developments Price Performance

Shares of MODVF stock traded down $0.13 during trading hours on Thursday, reaching $11.93. 1,147 shares of the stock were exchanged, compared to its average volume of 953. Melcor Developments has a 12-month low of $8.17 and a 12-month high of $12.06. The company’s 50-day moving average price is $11.36 and its 200-day moving average price is $10.90.

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.