Fortescue Ltd (OTCMKTS:FSUMF) Short Interest Down 7.7% in March

Fortescue Ltd (OTCMKTS:FSUMF) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 9,982,000 shares, a drop of 7.7% from the March 15th total of 10,810,900 shares. Based on an average daily volume of 9,600 shares, the short-interest ratio is currently 1,039.8 days.

Fortescue Trading Down 4.4 %

Fortescue stock traded down $0.75 during midday trading on Wednesday, reaching $16.20. The stock had a trading volume of 2,140 shares, compared to its average volume of 3,390. The firm’s fifty day simple moving average is $17.24 and its two-hundred day simple moving average is $16.81. Fortescue has a twelve month low of $11.97 and a twelve month high of $19.90.

Fortescue Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, March 27th. Investors of record on Thursday, February 29th were paid a $1.08 dividend. This represents a dividend yield of 7.38%. The ex-dividend date of this dividend was Wednesday, February 28th. Fortescue’s payout ratio is presently 21.45%.

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.