Mesabi Trust (NYSE:MSB) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Mesabi Trust (NYSE:MSB)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.58 and traded as high as $27.02. Mesabi Trust shares last traded at $26.17, with a volume of 34,615 shares trading hands.

Mesabi Trust Trading Up 6.4 %

The firm’s 50 day moving average price is $26.64 and its 200-day moving average price is $26.62. The company has a market cap of $371.48 million, a P/E ratio of 4.04 and a beta of 0.66.

Hedge Funds Weigh In On Mesabi Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Atlas Wealth Partners LLC acquired a new position in shares of Mesabi Trust in the 4th quarter valued at $202,000. Ameriprise Financial Inc. acquired a new position in Mesabi Trust in the fourth quarter valued at about $205,000. Heron Bay Capital Management bought a new position in Mesabi Trust during the fourth quarter worth about $204,000. Bank of Montreal Can acquired a new position in shares of Mesabi Trust during the 4th quarter worth about $208,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Mesabi Trust in the 4th quarter valued at about $228,000.

About Mesabi Trust

Mesabi Trust, a royalty trust, engages in iron ore mining business in the United States. Mesabi Trust was founded in 1961 and is based in New York, New York.