Insider Selling: ECA Marcellus Trust major shareholder Sells 2,500,000 Shares of Stock (ECT)
ECA Marcellus Trust (NYSE:ECT) major shareholder Corp Of America Energy sold 2,500,000 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $7.50, for a total transaction of $18,750,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
ECA Marcellus Trust (NYSE:ECT) traded down 1.51% during mid-day trading on Tuesday, hitting $7.17. 185,368 shares of the company’s stock traded hands. ECA Marcellus Trust has a 52-week low of $7.00 and a 52-week high of $11.30. The stock has a 50-day moving average of $8.52 and a 200-day moving average of $8.45. The company has a market cap of $126.4 million and a price-to-earnings ratio of 4.65.
The company also recently announced a quarterly dividend, which is scheduled for Friday, May 30th. Shareholders of record on Monday, May 19th will be paid a dividend of $0.334 per share. This represents a $1.34 annualized dividend and a dividend yield of 18.63%. The ex-dividend date is Thursday, May 15th.
ECA Marcellus Trust I (NYSE:ECT) is a trust formed by Energy Corporation of America (ECA) to own royalty interests in 14 producing horizontal natural gas wells producing from the Marcellus Shale formation and located in Greene County, Pennsylvania (the Producing Wells) and royalty interests in 52 horizontal natural gas development wells to be drilled to the Marcellus Shale formation (the PUD Wells) within the Area of Mutual Interest consisted of 9,300 net acres held by ECA in Greene County, Pennsylvania.
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