North European Oil Royalty Trust (NYSE:NRT) Short Interest Down 21.7% in November

North European Oil Royalty Trust (NYSE:NRT) was the target of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 25,300 shares, a decline of 21.7% from the November 15th total of 32,300 shares. Based on an average daily volume of 44,400 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.3% of the company’s stock are sold short.

Hedge Funds Weigh In On North European Oil Royalty Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank lifted its stake in North European Oil Royalty Trust by 141.0% in the 1st quarter. Comerica Bank now owns 4,304 shares of the energy company’s stock valued at $26,000 after acquiring an additional 2,518 shares in the last quarter. Peapack Gladstone Financial Corp lifted its stake in North European Oil Royalty Trust by 34.5% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 19,500 shares of the energy company’s stock valued at $102,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Swan Global Investments LLC bought a new stake in North European Oil Royalty Trust in the 3rd quarter valued at approximately $167,000. 6.97% of the stock is currently owned by institutional investors and hedge funds.

North European Oil Royalty Trust Price Performance

Shares of NRT remained flat at $3.90 on Monday. The company had a trading volume of 61,219 shares, compared to its average volume of 60,395. The business has a fifty day moving average of $4.54 and a two-hundred day moving average of $5.42. North European Oil Royalty Trust has a 1-year low of $3.90 and a 1-year high of $8.62. The stock has a market capitalization of $35.84 million, a price-to-earnings ratio of 8.50 and a beta of 0.76.

North European Oil Royalty Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.08 annualized dividend and a dividend yield of 2.05%. North European Oil Royalty Trust’s dividend payout ratio is presently 17.39%.

About North European Oil Royalty Trust

North European Oil Royalty Trust, a grantor trust, holds overriding royalty rights covering gas and oil production in various concessions or leases in the Federal Republic of Germany. The company also has rights under contracts with German exploration and development subsidiaries of ExxonMobil Corp. and the Royal Dutch/Shell Group of Companies.