PermRock Royalty Trust (NYSE:PRT) Short Interest Update

PermRock Royalty Trust (NYSE:PRT) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 13,800 shares, a drop of 60.6% from the October 15th total of 35,000 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 46,200 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On PermRock Royalty Trust

An institutional investor recently bought a new position in PermRock Royalty Trust stock. CWA Asset Management Group LLC acquired a new position in PermRock Royalty Trust (NYSE:PRT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,665 shares of the company’s stock, valued at approximately $58,000. CWA Asset Management Group LLC owned about 0.12% of PermRock Royalty Trust as of its most recent SEC filing. 41.67% of the stock is owned by institutional investors and hedge funds.

PermRock Royalty Trust Price Performance

NYSE:PRT traded down $0.01 during mid-day trading on Wednesday, hitting $3.89. 20,485 shares of the company’s stock were exchanged, compared to its average volume of 42,813. PermRock Royalty Trust has a one year low of $3.58 and a one year high of $5.50. The business has a fifty day moving average price of $3.94 and a 200 day moving average price of $3.93. The company has a market cap of $47.45 million, a PE ratio of 9.07 and a beta of 1.00.

PermRock Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.0302 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.36 annualized dividend and a dividend yield of 9.32%. This is an increase from PermRock Royalty Trust’s previous monthly dividend of $0.03. PermRock Royalty Trust’s dividend payout ratio (DPR) is 83.72%.

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.