MV Oil Trust (MVO) Shares Gap Up After Dividend Announcement
MV Oil Trust (NYSE:MVO)’s share price 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. Shareholders 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 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 payout ratio is presently 81.48%.
The firm has a market cap of $69.94 million, a PE ratio of 11.2619 and a beta of 0.38. The firm has a 50 day moving average price of $5.83 and a 200-day moving average price of $5.59.
A hedge fund recently bought a new stake in MV Oil Trust stock. Bank of Montreal Can purchased a new position in MV Oil Trust (NYSE:MVO) during the second quarter, according to its most recent filing with the SEC. The fund purchased 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. Hedge funds and other institutional investors own 9.12% of the company’s stock.
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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