Permianville Royalty Trust (NYSE:PVL) Stock Price Up 1.4% – Time to Buy?

Shares of Permianville Royalty Trust (NYSE:PVL) rose 1.4% during trading on Tuesday . The company traded as high as $1.44 and last traded at $1.44. Approximately 36,010 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 55,197 shares. The stock had previously closed at $1.42.

Permianville Royalty Trust Stock Performance

The business has a 50 day simple moving average of $1.45 and a two-hundred day simple moving average of $1.57. The firm has a market capitalization of $47.52 million, a P/E ratio of 6.86 and a beta of 0.89.

Permianville Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.0105 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.13 annualized dividend and a yield of 8.75%.

Hedge Funds Weigh In On Permianville Royalty Trust

A hedge fund recently bought a new stake in Permianville Royalty Trust stock. Ashton Thomas Private Wealth LLC acquired a new position in Permianville Royalty Trust (NYSE:PVL) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,690,973 shares of the company’s stock, valued at approximately $2,300,000. Ashton Thomas Private Wealth LLC owned 5.12% of Permianville Royalty Trust at the end of the most recent quarter. 6.78% of the stock is currently owned by institutional investors and hedge funds.

About Permianville Royalty Trust

Permianville Royalty Trust operates as a statutory trust. It is involved in the acquisition and holding of net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from properties located in the states of Texas, Louisiana, and New Mexico.