Short Interest in MV Oil Trust (NYSE:MVO) Decreases By 47.9%

Key Points

• MV Oil Trust experienced a drastic decline in short interest, dropping by 47.9% from mid-July to the end of July, with currently 3.1% of its shares sold short.
• Recent activity among institutional investors includes new positions from multiple firms, with total institutional ownership reaching 3.54% of MV Oil Trust's stock.
• The company reported a second quarter EPS of $0.28 and a revenue of $3.38 million, while also announcing a quarterly dividend of $0.185 per share.

MV Oil Trust (NYSE:MVO - Get Free Report) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totaling 352,700 shares, adeclineof47.9% from the July 15th total of 677,600 shares. Approximately3.1% of the shares of the stock are short sold. Based on an average daily volume of 76,700 shares, the days-to-cover ratio is presently 4.6 days. Based on an average daily volume of 76,700 shares, the days-to-cover ratio is presently 4.6 days. Approximately3.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace LLP bought a new position in MV Oil Trust in the fourth quarter valued at about $301,000. Kingswood Wealth Advisors LLC bought a new position in shares of MV Oil Trust during the first quarter worth about $97,000. Janney Montgomery Scott LLC bought a new position in shares of MV Oil Trust during the second quarter worth about $92,000. Finally, Allworth Financial LP bought a new position in shares of MV Oil Trust during the second quarter worth about $55,000. Institutional investors own 3.54% of the company's stock.

MV Oil Trust Price Performance

MVO stock traded up $0.0450 during midday trading on Friday, reaching $5.8650. The company had a trading volume of 39,205 shares, compared to its average volume of 44,988. MV Oil Trust has a 1-year low of $4.63 and a 1-year high of $10.31. The company has a market capitalization of $67.45 million, a price-to-earnings ratio of 4.65 and a beta of -0.10. The stock has a 50 day moving average price of $5.81 and a 200-day moving average price of $5.70.

MV Oil Trust (NYSE:MVO - Get Free Report) last released its earnings results on Tuesday, August 12th. The oil and gas producer reported $0.28 earnings per share (EPS) for the quarter. The business had revenue of $3.38 million during the quarter.

MV Oil Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Tuesday, July 15th were given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 12.6%. MV Oil Trust's dividend payout ratio is presently 58.73%.

About MV Oil Trust

MV Oil Trust acquires and holds term net profits interests in the oil and natural gas properties of MV Partners, LLC. Its properties wells located in the Mid-Continent region in the states of Kansas and Colorado. MV Oil Trust was incorporated in 2006 and is based in Houston, Texas.