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

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

Melcor Developments Stock Up 1.1%

MODVF stock traded up $0.13 during midday trading on Friday, reaching $12.06. The company had a trading volume of 819 shares, compared to its average volume of 943. The company has a 50 day moving average of $11.36 and a two-hundred day moving average of $10.90. Melcor Developments has a 1 year low of $8.17 and a 1 year high of $12.06.

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.