BP Prudhoe Bay Royalty Trust (NYSE:BPT) Short Interest Down 8.6% in June

BP Prudhoe Bay Royalty Trust (NYSE:BPT) saw a large decrease in short interest in June. As of June 15th, there was short interest totalling 1,490,000 shares, a decrease of 8.6% from the May 31st total of 1,630,000 shares. Approximately 7.0% of the shares of the stock are sold short. Based on an average daily volume of 167,600 shares, the days-to-cover ratio is currently 8.9 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of BP Prudhoe Bay Royalty Trust from a “hold” rating to a “sell” rating in a research note on Monday, March 18th.

BP Prudhoe Bay Royalty Trust Stock Performance

NYSE:BPT traded up $0.03 during mid-day trading on Wednesday, reaching $2.39. The stock had a trading volume of 63,675 shares, compared to its average volume of 155,327. BP Prudhoe Bay Royalty Trust has a 12 month low of $2.00 and a 12 month high of $8.17. The stock has a 50-day simple moving average of $2.34 and a two-hundred day simple moving average of $2.49.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BPT. Welch Group LLC lifted its holdings in shares of BP Prudhoe Bay Royalty Trust by 27.2% in the 4th quarter. Welch Group LLC now owns 21,059 shares of the oil and gas company’s stock worth $52,000 after purchasing an additional 4,500 shares in the last quarter. Narwhal Capital Management grew its holdings in shares of BP Prudhoe Bay Royalty Trust by 49.8% in the fourth quarter. Narwhal Capital Management now owns 29,284 shares of the oil and gas company’s stock worth $72,000 after purchasing an additional 9,737 shares during the last quarter. StoneX Group Inc. bought a new position in shares of BP Prudhoe Bay Royalty Trust during the first quarter valued at approximately $92,000. Fidelity D & D Bancorp Inc. bought a new stake in shares of BP Prudhoe Bay Royalty Trust during the 3rd quarter valued at $150,000. Finally, Oppenheimer & Co. Inc. grew its position in BP Prudhoe Bay Royalty Trust by 129.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 90,620 shares of the oil and gas company’s stock valued at $220,000 after purchasing an additional 51,087 shares during the last quarter. Institutional investors own 5.66% of the company’s stock.

About BP Prudhoe Bay Royalty Trust

BP Prudhoe Bay Royalty Trust operates as a grantor trust in the United States. It is involved in holding overriding royalty interest in the Prudhoe Bay oil field located on the North Slope of Alaska. The Prudhoe Bay field extends approximately 12 miles by 27 miles and contains approximately 150,000 gross productive acres.