Marine Petroleum Trust (NASDAQ:MARPS) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 5,300 shares, a drop of 34.6% from the July 31st total of 8,100 shares. Based on an average trading volume of 10,400 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.3% of the shares of the company are sold short.
Shares of MARPS stock traded down $0.04 during mid-day trading on Friday, hitting $2.16. 15 shares of the stock traded hands, compared to its average volume of 9,975. Marine Petroleum Trust has a twelve month low of $1.22 and a twelve month high of $4.09. The company’s 50-day simple moving average is $2.19 and its 200-day simple moving average is $2.31.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be given a dividend of $0.086 per share. This represents a $0.34 annualized dividend and a dividend yield of 15.93%. The ex-dividend date is Thursday, August 29th.
Marine Petroleum Trust (the Trust) is a royalty trust. The Trust is engaged in the administration and liquidation of rights to payments from certain oil and natural gas leases in the Gulf of Mexico, under license agreements and amendments between the Trust’s predecessors and Chevron Corporation (Chevron) and its assignees.
Further Reading: Outstanding Shares and The Effect on Share Price
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