Short Interest in Mesabi Trust (NYSE:MSB) Decreases By 31.4%

Mesabi Trust (NYSE:MSB) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 33,800 shares, a decrease of 31.4% from the August 15th total of 49,300 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 27,100 shares, the days-to-cover ratio is currently 1.2 days.

Shares of NYSE:MSB traded down $1.79 on Monday, reaching $29.77. 44,177 shares of the company traded hands, compared to its average volume of 43,817. The business’s 50-day simple moving average is $33.59 and its 200 day simple moving average is $34.27. The stock has a market capitalization of $390.58 million, a P/E ratio of 12.89 and a beta of 1.17. Mesabi Trust has a 52 week low of $20.03 and a 52 week high of $39.61.

The company also recently declared a quarterly dividend, which was paid on Friday, August 20th. Investors of record on Friday, July 30th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Thursday, July 29th.

A number of large investors have recently bought and sold shares of the business. Carnegie Capital Asset Management LLC increased its holdings in shares of Mesabi Trust by 1.8% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 17,150 shares of the mining company’s stock worth $607,000 after buying an additional 300 shares during the last quarter. ARS Investment Partners LLC acquired a new stake in shares of Mesabi Trust in the first quarter worth $572,000. Stonebridge Capital Advisors LLC acquired a new stake in Mesabi Trust during the first quarter valued at $30,000. Quilter Plc purchased a new position in Mesabi Trust during the first quarter valued at $211,000. Finally, First Dallas Securities Inc. purchased a new position in shares of Mesabi Trust in the first quarter worth about $203,000. 29.05% of the stock is owned by institutional investors and hedge funds.

Mesabi Trust Company Profile

Mesabi Trust engages in the collection and distribution of royalties and payment of expenses and liabilities. It holds interest in Peter Mitchell iron mine located near Babbitt and in Silver Bay, Minnesota. The company was founded on July 18, 1961 and is headquartered in New York, NY.

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