Mesabi Trust Continues Higher (MSB)
Symbols: MSB
Posted in: Long Ideas, Trading Ideas
Yesterday, I mentioned a little known trust company, called Mesabi Trust (NYSE: MSB).
It was up on strong volume yesterday, and is up on strong volume again today.
MSB is currently gaining 98 cents, good for a gain of 3.7% to trade at $27.22.
Earlier, in the day, it hit its 52 week high of $27.50.
Volume is particularly strong today, having traded over 300,000 shares. The average daily volume for MSB is 137,000 shares, so this is almost two and a half times daily volume.
Mesabi Trust operates as a grantor trust in the United States. It holds interests in various iron ore properties in the Mesabi Iron Range, including its interest as assignor in the Amended Assignment of Peters Lease and the Amended Assignment.
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