Short Interest in Cross Timbers Royalty Trust (NYSE:CRT) Drops By 59.6%

Cross Timbers Royalty Trust (NYSE:CRT) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 8,200 shares, a decline of 59.6% from the February 28th total of 20,300 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 29,500 shares, the days-to-cover ratio is presently 0.3 days.

Cross Timbers Royalty Trust Stock Down 3.2 %

Shares of Cross Timbers Royalty Trust stock opened at $11.77 on Thursday. The stock’s fifty day moving average is $10.81 and its two-hundred day moving average is $10.42. The company has a market capitalization of $70.59 million, a PE ratio of 10.50 and a beta of 0.52. Cross Timbers Royalty Trust has a 52 week low of $8.88 and a 52 week high of $14.98.

Cross Timbers Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a $0.1567 dividend. This represents a $1.88 annualized dividend and a yield of 15.99%. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.05. The ex-dividend date is Monday, March 31st. Cross Timbers Royalty Trust’s payout ratio is 167.86%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

A number of hedge funds have recently added to or reduced their stakes in CRT. Miracle Mile Advisors LLC bought a new stake in shares of Cross Timbers Royalty Trust during the fourth quarter valued at approximately $148,000. Beacon Pointe Advisors LLC purchased a new stake in Cross Timbers Royalty Trust in the fourth quarter worth about $618,000. Finally, Citadel Advisors LLC bought a new position in Cross Timbers Royalty Trust during the 4th quarter worth about $132,000. 9.74% of the stock is currently owned by institutional investors.

Cross Timbers Royalty Trust Company Profile

Cross Timbers Royalty Trust operates as an express trust in the United States. It holds 90% net profits interests in certain producing and nonproducing royalty and overriding royalty interest properties in Texas, Oklahoma, and New Mexico; and 75% net profits working interest in four properties in Texas and three properties in Oklahoma.