ECA Marcellus Trust I (OTCMKTS:ECTM) Sees Large Drop in Short Interest

ECA Marcellus Trust I (OTCMKTS:ECTM) was the target of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 11,800 shares, a drop of 73.2% from the February 28th total of 44,000 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 136,300 shares, the days-to-cover ratio is currently 0.1 days.

ECA Marcellus Trust I Stock Performance

Shares of ECTM stock traded down $0.01 during midday trading on Friday, hitting $0.49. 35,010 shares of the company were exchanged, compared to its average volume of 34,819. The firm has a market capitalization of $8.63 million, a P/E ratio of 8.17 and a beta of 0.55. ECA Marcellus Trust I has a 52 week low of $0.37 and a 52 week high of $0.55. The firm’s 50 day moving average price is $0.50 and its two-hundred day moving average price is $0.47.

ECA Marcellus Trust I Announces Dividend

The company also recently announced an annual dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 24th were given a $0.02 dividend. This represents a dividend yield of 4%. The ex-dividend date of this dividend was Monday, February 24th. ECA Marcellus Trust I’s payout ratio is 133.33%.

ECA Marcellus Trust I Company Profile

ECA Marcellus Trust I owns royalty interests in producing wells and horizontal natural gas development wells for Energy Corporation of America (ECA). The company owns royalty interests in 14 producing wells and 40 development wells located in the Greene County, Pennsylvania. Its royalty interests in the producing wells allow the company to receive 90% of the proceeds from the sale of production of natural gas attributable to ECA’s interest in the producing wells; and 50% of the proceeds from the sale of production of natural gas attributable to ECA’s interest in the development wells.