Permianville Royalty Trust (NYSE:PVL) Short interest down 27.8% in April

Permianville Royalty Trust (NYSE:PVL – Get Rating) was the target of a significant drop in short interest during the month of April. As of April 30, there was short interest totaling 80,600 shares, down 27.8% from the April 15 total of 111,600 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily volume of 190,200 shares, the day-to-cover ratio is currently 0.4 days.

Permianville Royalty Trust shares opened at $3.44 on Friday. Permianville Royalty Trust has a 12-month low of $1.56 and a 12-month high of $3.49. The company has a 50-day simple moving average of $2.91 and a 200-day simple moving average of $2.47.

The company also recently declared a monthly dividend, which will be paid on Monday, May 16. Shareholders of record on Friday, April 29 will receive a dividend of $0.0315 per share. This represents an annualized dividend of $0.38 and a dividend yield of 10.99%. The ex-dividend date is Thursday, April 28. This is a boost from Permianville Royalty Trust’s previous monthly dividend of $0.02.

About Permianville Royalty Trust (Get a rating)

Permianville Royalty Trust operates as a statutory trust. It holds a 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. The company was previously known as Enduro Royalty Trust and changed its name to Permianville Royalty Trust in September 2018.

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