North European Oil Royalty Trust (NYSE:NRT) Sees Significant Drop in Short Interest

North European Oil Royalty Trust (NYSE:NRT) saw a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 25,300 shares, a decrease 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 currently 0.6 days. Approximately 0.3% of the company’s stock are short sold.

North European Oil Royalty Trust Stock Performance

NRT stock traded down $0.03 during trading on Friday, hitting $3.90. 34,962 shares of the stock traded hands, compared to its average volume of 60,392. North European Oil Royalty Trust has a 1 year low of $3.90 and a 1 year high of $8.62. The firm’s 50 day moving average is $4.54 and its two-hundred day moving average is $5.42.

North European Oil Royalty Trust Cuts Dividend

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

Institutional Trading of North European Oil Royalty Trust

Institutional investors have recently bought and sold shares of the company. Comerica Bank lifted its stake in North European Oil Royalty Trust by 141.0% during 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 during the period. Swan Global Investments LLC bought a new position in North European Oil Royalty Trust during the 3rd quarter valued at about $167,000. Finally, Peapack Gladstone Financial Corp lifted its stake in North European Oil Royalty Trust by 34.5% during 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 during the period. 6.97% of the stock is owned by hedge funds and other institutional investors.

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.