Short Interest in Melcor Developments Ltd. (OTCMKTS:MODVF) Declines By 35.0%

Melcor Developments Ltd. (OTCMKTS:MODVF) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 4,271 shares, a decrease of 35.0% from the May 31st total of 6,572 shares. Based on an average daily volume of 554 shares, the days-to-cover ratio is currently 7.7 days.

Melcor Developments Stock Performance

Melcor Developments stock opened at $12.90 on Friday. The company has a 50-day moving average price of $13.21 and a 200 day moving average price of $12.56. Melcor Developments has a 12-month low of $10.15 and a 12-month high of $14.04.

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.