MV Oil Trust (MVO) Shares Gap Up After Dividend Announcement
MV Oil Trust (NYSE:MVO) gapped up before the market opened on Wednesday following a dividend announcement from the company. The stock had previously closed at $5.78, but opened at $5.89. MV Oil Trust shares last traded at $6.06, with a volume of 42,281 shares trading hands.
The newly announced dividend which will be paid on Tuesday, October 25th. Investors of record on Friday, October 14th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.04%. This is a positive change from MV Oil Trust’s previous quarterly dividend of $0.11. The ex-dividend date is Wednesday, October 12th. MV Oil Trust’s dividend payout ratio (DPR) is presently 81.48%.
The firm’s 50-day moving average price is $5.83 and its 200-day moving average price is $5.59. The firm has a market capitalization of $69.94 million, a price-to-earnings ratio of 11.2619 and a beta of 0.38.
A hedge fund recently bought a new stake in MV Oil Trust stock. Bank of Montreal Can bought a new position in MV Oil Trust (NYSE:MVO) during the second quarter, according to its most recent filing with the SEC. The institutional investor bought 22,000 shares of the company’s stock, valued at approximately $139,000. Bank of Montreal Can owned 0.19% of MV Oil Trust at the end of the most recent reporting period. 9.12% of the stock is owned by institutional investors.
About MV Oil Trust
MV Oil Trust (the Trust) is a statutory trust. The Trust acquires and holds a term net profits interest for the benefit of the Trust unitholders. Its underlying properties consist of MV Partners, LLC’s (MV Partners) net interests in all of its oil and natural gas properties, which are located in the Mid-Continent region in the States of Kansas and Colorado.
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