Short Interest in PermRock Royalty Trust (NYSE:PRT) Expands By 62.3%

PermRock Royalty Trust (NYSE:PRT) was the recipient of a significant growth in short interest in 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 shares of the stock are sold short. Based on an average daily volume of 63,400 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On PermRock Royalty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameriflex Group Inc. acquired a new position in shares of PermRock Royalty Trust in the 4th quarter valued at $55,000. Virtu Financial LLC purchased a new position in PermRock Royalty Trust in the 3rd quarter valued at approximately $46,000. Finally, Millennium Management LLC acquired a new position in PermRock Royalty Trust during the 4th quarter worth $36,000. Institutional investors and hedge funds own 41.67% of the company’s stock.

PermRock Royalty Trust Stock Up 1.8 %

Shares of NYSE PRT opened at $4.03 on Monday. The stock has a market capitalization of $49.03 million, a price-to-earnings 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. The firm has a 50-day simple moving average of $4.16 and a 200-day simple moving average of $3.98.

PermRock Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.0402 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 11.97%. The ex-dividend date of this dividend was Friday, February 28th. PermRock Royalty Trust’s dividend payout ratio (DPR) 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.