Shares of SandRidge Permian Trust (NYSE:PER) dropped 11% during trading on Wednesday . The stock traded as low as $2.68 and last traded at $2.68, with a volume of 197,472 shares changing hands. The stock had previously closed at $3.01.

Separately, Roth Capital reaffirmed a “buy” rating on shares of SandRidge Permian Trust in a research note on Tuesday, July 12th.

The stock’s 50-day moving average price is $2.54 and its 200 day moving average price is $2.56. The stock has a market capitalization of $139.13 million and a PE ratio of 2.20.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Friday, August 12th will be given a dividend of $0.12 per share. This is a positive change from SandRidge Permian Trust’s previous quarterly dividend of $0.09. This represents a $0.48 dividend on an annualized basis and a yield of 18.11%. The ex-dividend date of this dividend is Wednesday, August 10th.

Sandridge Permian Trust is a statutory trust formed under the Delaware Statutory Trust Act pursuant to a trust agreement by and among SandRidge Energy, Inc (SandRidge), as Trustor, The Bank of New York Mellon Trust Company, N.A., as Trustee (the Trustee), and The Corporation Trust Company, as Delaware Trustee (the Delaware Trustee).

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