Permianville Royalty Trust (NYSE:PVL) Sees Large Growth in Short Interest

Permianville Royalty Trust (NYSE:PVL – Get Rating) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 140,600 shares, a growth of 74.4% from the April 30th total of 80,600 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily trading volume, of 210,600 shares, the days-to-cover ratio is presently 0.7 days.

An institutional investor recently bought a new position in Permianville Royalty Trust stock. Virtu Financial LLC acquired a new position in shares of Permianville Royalty Trust (NYSE:PVL – Get Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 68,092 shares of the company’s stock, valued at approximately $171,000. Virtu Financial LLC owned about 0.21% of Permianville Royalty Trust as of its most recent filing with the Securities & Exchange Commission.

NYSE:PVL opened at $4.67 on Friday. The business’s fifty day moving average price is $3.15 and its 200 day moving average price is $2.59. Permianville Royalty Trust has a 12 month low of $1.64 and a 12 month high of $4.70.

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 14th. Investors of record on Tuesday, May 31st will be issued a $0.032 dividend. This represents a $0.38 annualized dividend and a yield of 8.22%. The ex-dividend date is Friday, May 27th. This is a positive change from Permianville Royalty Trust’s previous monthly dividend of $0.03.

Permianville Royalty Trust Company Profile (Get Rating)

Permianville Royalty Trust operates as a statutory trust. It owns a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from properties located in the states of Texas, Louisiana, and New Mexico. The company was formerly known as Enduro Royalty Trust and changed its name to Permianville Royalty Trust in September 2018.

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