November 8, 2016 - 2:59 PM EST
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Financials Get Upward Pressure from 4.77% Morning Gain by Marine Petroleum Trust Units of Beneficial Interest (MARPS) on November 8

Financial stocks listed on the New York Stock Exchange or NASDAQ have gotten some tailwinds from Marine Petroleum Trust Units of Beneficial Interest (MARPS), as one of the best performers in the sector during morning trading on November 8. At the lunch break, shares of MARPS have advanced 4.77% to $3.16 after closing the day prior at $3.02. In morning action, the stock has moved as high as $3.16 and as low as $3.01. Today's rise has come with about 1,023 shares changing hands, compared to an average 30-day volume of 7,015 for Marine Petroleum Trust Units of Beneficial Interest. The price is currently below the 30-day volume weighted average price of $3.03 for MARPS. The share appreciation gives the company a market capitalization of $6.04 million based upon 2.0 million shares outstanding. It also means that MARPS has a price-to-book ratio of 7.32:1. In the past 52 weeks, shares of MARPS have traded as low as $2.97 and as high as $7.0. Technical traders will take note that at $3.16, shares of MARPS are trading below their 200-day MA at $4.15 and below their 50-day MA at $3.36. 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. For more information on MARPS and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit FinancialPress.com today. All data provided by QuoteMedia, with stock data accurate as of 12:00 PM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information. About FinancialPress.com FinancialPress.com is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here. If you like this article, you can read more at FinancialPress.com


Source: Financial Press News (November 8, 2016 - 2:59 PM EST)

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