MV Oil Trust (NYSE:MVO) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• MV Oil Trust's stock price has recently surpassed its 200-day moving average, trading as high as $6.10 before closing at $6.00.
• The company announced a quarterly earnings report showing an EPS of $0.28 and revenue of $3.38 million, alongside a dividend cut to $0.185 per share.
• Recent changes in stock positions include investments from various hedge funds, with 3.54% of the stock now owned by institutional investors.

Shares of MV Oil Trust (NYSE:MVO - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.78 and traded as high as $6.10. MV Oil Trust shares last traded at $6.00, with a volume of 88,127 shares traded.

MV Oil Trust Stock Up 0.9%

The company's fifty day moving average is $5.86 and its 200-day moving average is $5.78. The company has a market cap of $71.13 million, a PE ratio of 4.91 and a beta of -0.01.

MV Oil Trust (NYSE:MVO - Get Free Report) last issued its quarterly earnings data 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 for the quarter.

MV Oil Trust Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Tuesday, July 15th were given a dividend of $0.185 per share. The ex-dividend date was Tuesday, July 15th. This represents a $0.74 annualized dividend and a yield of 12.0%. MV Oil Trust's payout ratio is 58.73%.

Hedge Funds Weigh In On MV Oil Trust

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

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.