Gulf Coast Ultra Deep Royalty Trust (OTCMKTS:GULTU – Get Free Report)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $0.03 and traded as high as $0.0313. Gulf Coast Ultra Deep Royalty Trust shares last traded at $0.0313, with a volume of 13,101 shares trading hands.
Gulf Coast Ultra Deep Royalty Trust Stock Up 2.6%
The stock’s fifty day simple moving average is $0.03 and its 200-day simple moving average is $0.03.
About Gulf Coast Ultra Deep Royalty Trust
Gulf Coast Ultra Deep Royalty Trust is a statutory trust formed in 2006 to hold overriding royalty interests in a portfolio of deepwater oil and natural gas properties in the Gulf of Mexico. The trust’s assets consist of a fixed percentage of net profits attributable to production from designated fields, enabling unitholders to participate in revenue derived from deepwater exploration and production without direct operational involvement.
The trust’s royalties are generated primarily from production in the Mars, Ursa and neighboring deepwater blocks, with sales volumes and commodity prices driving the distribution to unitholders.
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