Mesa Royalty Trust (NYSE:MTR) Shares Cross Above Fifty Day Moving Average of $18.48

Mesa Royalty Trust (NYSE:MTR – Get Rating) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $18.48 and traded as high as $26.75. Mesa Royalty Trust shares last traded at $26.75, with a volume of 48,753 shares changing hands.

Mesa Royalty Trust Trading Up 8.3 %

The stock has a 50-day moving average price of $18.48 and a 200-day moving average price of $18.07.

Mesa Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, July 31st. Investors of record on Wednesday, May 31st will be issued a dividend of $0.238 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 10.68%. This is a boost from Mesa Royalty Trust’s previous monthly dividend of $0.16. The ex-dividend date is Tuesday, May 30th.

Hedge Funds Weigh In On Mesa Royalty Trust

A number of large investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its holdings in shares of Mesa Royalty Trust by 67.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,223 shares of the energy company’s stock valued at $122,000 after buying an additional 4,513 shares in the last quarter. Fayez Sarofim & Co purchased a new position in shares of Mesa Royalty Trust during the 4th quarter valued at about $209,000. UBS Group AG raised its holdings in shares of Mesa Royalty Trust by 28.6% during the 4th quarter. UBS Group AG now owns 5,026 shares of the energy company’s stock valued at $111,000 after buying an additional 1,118 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC raised its holdings in shares of Mesa Royalty Trust by 50.0% during the 1st quarter. BNP Paribas Arbitrage SNC now owns 2,032 shares of the energy company’s stock valued at $33,000 after buying an additional 677 shares in the last quarter. 11.85% of the stock is owned by hedge funds and other institutional investors.

About Mesa Royalty Trust

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Mesa Royalty Trust holds royalty interests in oil and gas producing properties in the United States. It earns specified interests in certain producing oil and gas properties such as Hugoton Royalty Properties located in Hugoton field of Kansas, San Juan Basin located in San Juan Basin field of New Mexico, and the San Juan Basin in San Juan Basin field of Colorado.