MV Oil Trust (NYSE:MVO) Sees Significant Drop in Short Interest

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 drop in short interest during the month of July. As of July 31st, there was short interest totaling 352,700 shares, adropof47.9% from the July 15th total of 677,600 shares. Currently,3.1% of the company's shares are sold short. Based on an average daily volume of 76,700 shares, the short-interest ratio is presently 4.6 days. Based on an average daily volume of 76,700 shares, the short-interest ratio is presently 4.6 days. Currently,3.1% of the company's shares are sold short.

Hedge Funds Weigh In On MV Oil Trust

Institutional investors have recently modified their holdings of the stock. Allworth Financial LP purchased a new position in shares of MV Oil Trust during the second quarter worth approximately $55,000. Marshall Wace LLP purchased a new position in shares of MV Oil Trust during the second quarter worth approximately $88,000. Janney Montgomery Scott LLC purchased a new position in shares of MV Oil Trust during the second quarter worth approximately $92,000. Finally, Kingswood Wealth Advisors LLC purchased a new position in MV Oil Trust during the first quarter valued at approximately $97,000. 3.54% of the stock is owned by hedge funds and other institutional investors.

MV Oil Trust Stock Performance

Shares of NYSE:MVO opened at $5.8350 on Wednesday. The firm has a market cap of $67.10 million, a PE ratio of 4.63 and a beta of -0.10. The firm's 50 day simple moving average is $5.81 and its 200-day simple moving average is $5.68. MV Oil Trust has a one year low of $4.63 and a one year high of $10.31.

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

MV Oil Trust Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Tuesday, July 15th were given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 12.7%. MV Oil Trust's dividend payout ratio (DPR) is presently 58.73%.

MV Oil Trust Company Profile

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.

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