Home / Financial / Marine Petroleum Trust Units of Beneficial Interest (MARPS) Weighs on Financial Sector, Stock Falls 5.64% on April 21

Marine Petroleum Trust Units of Beneficial Interest (MARPS) Weighs on Financial Sector, Stock Falls 5.64% on April 21

Marine Petroleum Trust Units of Beneficial Interest (MARPS) was one of the weakest stocks in the financial sector of the NYSE and NASDAQ listed companies on April 21, skidding 5.64% to close the day at $3.93 after closing the day prior at $4.17. Throughout the day, shares of MARPS traded as high as $3.93 and as low as $3.93. Today’s decline came with about 311 shares changing hands, compared to an average 30-day volume of 2,409 for Marine Petroleum Trust Units of Beneficial Interest. The price is currently below the 30-day volume weighted average price of $3.93 for MARPS.

The share depreciation gives the company a market capitalization of $8.34 million based upon 2.0 million shares outstanding. It also means that MARPS has a price-to-book ratio of 9.1:1.

In the past 52 weeks, shares of MARPS have traded as low as $2.91 and as high as $6.0. Technical traders will take note that at $3.93, shares of MARPS are trading below their 200-day MA at $4.07 and below their 50-day MA at $4.56. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.

Who is MARPS?

Marine Petroleum Trust operates as a royalty trust. The Company is engaged in the administration and liquidation of rights to payments from certain oil and natural gas leases in the Gulf of Mexico. The company’s employees are led by CEO from the corporate headquarters at c/o Corporate Trustee in Dallas, TX.

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