Marine Petroleum Trust Units of Beneficial Interest (MARPS) Surges 5.51% on December 21 to Lead Financial Sector

Marine Petroleum Trust Units of Beneficial Interest (MARPS) was one of the best performers amongst all companies listed in the financial sector on the NYSE and NASDAQ exchanges during trading on December 21, climbing 5.51% to wrap the day at $4.72 after closing the day prior at $4.47. Throughout the trading session, shares of MARPS rose as high as $5.09 and dipped as low as $4.29. Today's advance came with about 3,824 shares changing hands, compared to an average 30-day volume of 7,640 for Marine Petroleum Trust Units of Beneficial Interest. The price is currently below the 30-day volume weighted average price of $4.83 for MARPS.

The share appreciation today gives the company a market capitalization of $8.94 million based upon 2.0 million shares outstanding. It also means that MARPS has a price-to-book ratio of 10.04:1.

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 $4.72, shares of MARPS are trading above their 200-day MA at $4.07 and above their 50-day MA at $3.63. 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 above them is typically regarded as bullish.

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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