In recent times, the Eca Marcellus Trust I (OTCMKTS:ECTM) has attracted considerable interest from investors and that can be gauged from the price action in its stock. This past Friday the stock had experienced a strong rally and ended the day with gains of 9%.
Market Action
On Friday, ECTM stock gained 9.40% to $1.28 with 272K shares, compared to its average volume of 46K shares. The stock moved within a range of $1.2100 – 1.3400 after opening trade at $1.25.
Recent News
That took the gains made by the ECA MARCELLUS stock to as much as 21%. There has been no news at all about the company in recent days and in fact, one would need to go back to February this year to come across that last news that had emerged about the company. Hence, the rally might seem speculative to some investors.
Back on February 8 the company had announced that the trust had decided to distribute as much as $0.136 per unit for the quarter that had ended on December 31, 2021. At the time the company had announced that it was going to distribute the funds to all those holders of record as on February 18, 2022.
The actual payout had been planned for February 28, 2022. At this point in time, it may be a good idea for investors to consider adding the stock to their watch lists and watch for further developments.
Traders Note
ECTM stock is trading above the 10-Day and 20-Day Moving averages of $1.01 and $0.80 respectively. Moreover, the stock is trading is the neutral zone with RSI stands at 73.
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