to dbevil something is wrong with your conclusions:
primo From MIST data, at -28oF and 500 psig the sound speed is higher than at 50 psig: 5840 f/s vs 5804 f/s.
secondo The speed of sound in liquid ammonia at the conditions you stated is indeed about 20% higher than in water at ambient conditions.
tertio The density of liquid ammonia at the higher pressure is, of course, higher, 683.6 kg/m3 vs 682.1 kg/m3.
quarto The modulus of elasticity is proportional to the square of the sound velocity times the density, therefore, since both go up with pressure, so does the bulk modulus, meaning that the isothermal compressibility (the inverse of the modulus) goes down as the pressure increases.
quinto The bulk modulus for water at 15oC is 22,000 kg/cm2 that for ammonia 21,770 kg/cm2 meaning there is no large difference between the compressibilities of liquid ammonia and water.
Please discuss my findings, and tell me whether you agree; and if you don't please tell me why.