PermRock Royalty Trust (NYSE:PRT) Short Interest Up 62.3% in February

PermRock Royalty Trust (NYSE:PRT) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 46,900 shares, an increase of 62.3% from the February 13th total of 28,900 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average trading volume of 63,400 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of PermRock Royalty Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Ameriflex Group Inc. purchased a new position in PermRock Royalty Trust during the 4th quarter worth $55,000. Virtu Financial LLC acquired a new stake in shares of PermRock Royalty Trust during the 3rd quarter valued at approximately $46,000. Finally, Millennium Management LLC purchased a new stake in PermRock Royalty Trust during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 41.67% of the company’s stock.

PermRock Royalty Trust Stock Performance

Shares of NYSE PRT opened at $4.03 on Monday. The firm has a market capitalization of $49.03 million, a PE ratio of 9.60 and a beta of 0.95. PermRock Royalty Trust has a fifty-two week low of $3.26 and a fifty-two week high of $4.63. The stock’s 50-day simple moving average is $4.16 and its 200-day simple moving average is $3.98.

PermRock Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.0402 per share. This represents a $0.48 annualized dividend and a dividend yield of 11.97%. The ex-dividend date was Friday, February 28th. PermRock Royalty Trust’s payout ratio is 114.29%.

PermRock Royalty Trust Company Profile

PermRock Royalty Trust operates as a statutory trust. It owns interests in the oil and natural gas producing properties. The company's underlying properties include 22,394 net acres in the Permian Basin. The company was founded in 2017 and is based in Dallas, Texas.