San Juan Basin Royalty Trust (NYSE:SJT) saw a significant decline in short interest in the month of November. As of November 29th, there was short interest totalling 377,600 shares, a decline of 16.7% from the November 14th total of 453,300 shares. Based on an average daily volume of 168,000 shares, the short-interest ratio is presently 2.2 days. Currently, 0.9% of the company’s shares are short sold.
Several institutional investors have recently made changes to their positions in SJT. Delta Investment Management LLC acquired a new stake in shares of San Juan Basin Royalty Trust during the third quarter worth $180,000. BBVA USA Bancshares Inc. acquired a new position in San Juan Basin Royalty Trust during the third quarter valued at $121,000. Wealthsource Partners LLC raised its position in San Juan Basin Royalty Trust by 8.5% during the second quarter. Wealthsource Partners LLC now owns 205,924 shares of the oil and gas producer’s stock valued at $789,000 after buying an additional 16,154 shares during the period. Sunbelt Securities Inc. acquired a new position in San Juan Basin Royalty Trust during the third quarter valued at $34,000. Finally, Wells Fargo & Company MN raised its position in San Juan Basin Royalty Trust by 2.1% during the second quarter. Wells Fargo & Company MN now owns 253,319 shares of the oil and gas producer’s stock valued at $971,000 after buying an additional 5,168 shares during the period. 15.97% of the stock is currently owned by institutional investors.
Shares of San Juan Basin Royalty Trust stock traded up $0.01 on Thursday, reaching $2.23. 152,300 shares of the company were exchanged, compared to its average volume of 149,850. The stock has a fifty day moving average price of $2.46 and a 200-day moving average price of $2.98. San Juan Basin Royalty Trust has a fifty-two week low of $2.11 and a fifty-two week high of $5.93.
San Juan Basin Royalty Trust operates as an express trust in Texas. The company has a 75% net overriding royalty interest carved out of Southland's oil and natural gas interests (the subject interests) in properties located in the San Juan Basin in northwestern New Mexico. The subject interests consist of working interests, royalty interests, overriding royalty interests, and other contractual rights in 119,000 net producing acres in San Juan, Rio Arriba, and Sandoval Counties of northwestern New Mexico, as well as 828.1 net wells.
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