Mesabi Trust (NYSE:MSB) Short Interest Update

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Mesabi Trust (NYSE:MSB) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 76,400 shares, a decline of 55.3% from the July 31st total of 171,100 shares. Based on an average daily volume of 61,100 shares, the short-interest ratio is presently 1.3 days. Currently, 0.6% of the company’s shares are short sold.

Institutional investors have recently made changes to their positions in the company. Stonebridge Capital Advisors LLC acquired a new stake in shares of Mesabi Trust during the second quarter worth $30,000. AdvisorNet Financial Inc raised its position in Mesabi Trust by 53.3% during the second quarter. AdvisorNet Financial Inc now owns 2,614 shares of the mining company’s stock valued at $77,000 after buying an additional 909 shares during the period. Arlington Partners LLC acquired a new position in Mesabi Trust during the second quarter valued at $173,000. Stephens Inc. AR acquired a new position in Mesabi Trust during the second quarter valued at $226,000. Finally, LPL Financial LLC acquired a new position in Mesabi Trust during the second quarter valued at $280,000. 16.95% of the stock is currently owned by institutional investors.

Shares of Mesabi Trust stock traded down $0.07 on Friday, reaching $24.66. 32,000 shares of the company were exchanged, compared to its average volume of 65,352. The stock has a fifty day moving average price of $24.11 and a 200-day moving average price of $28.30. The firm has a market capitalization of $308.98 million, a price-to-earnings ratio of 6.99 and a beta of 0.75. Mesabi Trust has a fifty-two week low of $21.55 and a fifty-two week high of $32.67.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Monday, July 29th.

About Mesabi Trust

Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. The company was founded in 1919 and is based in New York, New York.

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