MV Oil Trust (NYSE:MVO) announced a quarterly dividend on Tuesday, January 4th, Zacks reports. Stockholders of record on Friday, January 14th will be given a dividend of 0.41 per share by the oil and gas producer on Tuesday, January 25th. This represents a $1.64 annualized dividend and a dividend yield of 16.29%. The ex-dividend date is Thursday, January 13th. This is an increase from MV Oil Trust’s previous quarterly dividend of $0.37.
MV Oil Trust has decreased its dividend payment by 30.6% over the last three years and has increased its dividend every year for the last 2 years.
Shares of MVO stock traded up $0.29 on Wednesday, hitting $10.07. 390,979 shares of the company’s stock traded hands, compared to its average volume of 237,311. MV Oil Trust has a one year low of $3.45 and a one year high of $10.25. The company’s fifty day simple moving average is $8.58 and its 200 day simple moving average is $8.02.
A hedge fund recently raised its stake in MV Oil Trust stock. Morgan Stanley boosted its position in MV Oil Trust (NYSE:MVO) by 41.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 140,267 shares of the oil and gas producer’s stock after acquiring an additional 41,267 shares during the period. Morgan Stanley owned 1.22% of MV Oil Trust worth $1,190,000 at the end of the most recent reporting period. 2.96% of the stock is currently owned by hedge funds and other institutional investors.
About MV Oil Trust
MV Oil Trust is a close-ended investment trust. It engages in acquiring and holding a term net profits interest for the benefit of the trust unitholders. The company was founded on August 3, 2006 and is headquartered in Houston, TX.
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