Permianville Royalty Trust (NYSE:PVL) Stock Jumps 10% In a Week: Here is Why

If you are currently on the lookout for stocks which may have recorded steady gains over the past few weeks then it could be a good time to take a look at the Permianville Royalty Trust (NYSE:PVL) stock.

Market Stats

On Wednesday, PVL stock moved up 1.35% at $2.25 with more than 143k shares, compared to its average volume of 78k shares. The stock has moved within a range of $ 2.2255 – 2.3000  after opening the trade at $2.25.

Monthly Cash Distribution

The stock has been in focus among investors for the past month and during the period it has managed to clock gains of as much as 10%. In this regard, it is perhaps necessary for investors to keep in mind that there has been no news at all about Permianville over the course of the past month and the last time any news emerged about the company was back in September this year.

Back on September 17 the company announced that it was going to distribute cash to unit holders to the tune of as much as $0.021000 per unit. The amount had been paid out on October 15, 2021 to all those who had been unit holders of record as of September 30, 2021.

It was a major announcement from the company and may have led to considerable interest in the stock at the time. In light of the latest rally, investors could do well to keep an eye out for any news regarding Permianville.  

Traders Corner

PVL stock is above the 200-Day and 50-Day Moving averages of $1.70 and $2.02 respectively. Moreover, the stock is trading above the 20-Day moving average of $2.17. The stock is up 30% in the past 3-month.