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

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

PermRock Royalty Trust Trading Up 1.8 %

Shares of NYSE:PRT traded up $0.07 on Friday, reaching $4.03. 34,927 shares of the company traded hands, compared to its average volume of 49,317. The business’s 50-day simple moving average is $4.16 and its 200 day simple moving average is $3.98. The stock has a market capitalization of $49.03 million, a P/E ratio of 9.60 and a beta of 0.95. PermRock Royalty Trust has a 52 week low of $3.26 and a 52 week high of $4.63.

PermRock Royalty Trust Cuts Dividend

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

Institutional Trading of PermRock Royalty Trust

A number of institutional investors have recently modified their holdings of PRT. Virtu Financial LLC purchased a new stake in shares of PermRock Royalty Trust during the third quarter worth about $46,000. Millennium Management LLC purchased a new stake in shares of PermRock Royalty Trust during the fourth quarter worth about $36,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of PermRock Royalty Trust during the fourth quarter worth about $55,000. 41.67% of the stock is currently owned by hedge funds and other institutional investors.

About PermRock Royalty Trust

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.