Mesabi Trust (NYSE:MSB) Short Interest Update


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Mesabi Trust (NYSE:MSB) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 94,000 shares, an increase of 29.8% from the March 31st total of 72,400 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average trading volume of 54,900 shares, the short-interest ratio is currently 1.7 days.

A number of institutional investors have recently made changes to their positions in MSB. NEXT Financial Group Inc bought a new stake in Mesabi Trust in the 1st quarter worth $30,000. Berman Capital Advisors LLC bought a new stake in shares of Mesabi Trust during the 4th quarter valued at about $39,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of Mesabi Trust during the 4th quarter valued at about $62,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Mesabi Trust by 1,303.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,316 shares of the mining company’s stock valued at $177,000 after purchasing an additional 5,866 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in shares of Mesabi Trust during the 3rd quarter valued at about $210,000.

Mesabi Trust stock traded up $0.72 during trading hours on Tuesday, reaching $36.78. The stock had a trading volume of 64,215 shares, compared to its average volume of 55,748. The stock has a market cap of $482.55 million, a PE ratio of 25.57 and a beta of 1.13. Mesabi Trust has a 52 week low of $12.18 and a 52 week high of $38.37. The company has a fifty day simple moving average of $32.39 and a 200-day simple moving average of $27.69.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 20th. Shareholders of record on Friday, April 30th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 9.68%. The ex-dividend date is Thursday, April 29th. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.46.

Mesabi Trust Company Profile

Mesabi Trust, a royalty trust, engages in the iron ore mining business in the United States. The company was founded in 1961 and is based in New York, New York.

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