BP Prudhoe Bay Royalty Trust (NYSE:BPT – Get Free Report) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 1,350,000 shares, an increase of 18.4% from the July 15th total of 1,140,000 shares. Approximately 6.3% of the shares of the company are short sold. Based on an average daily volume of 129,400 shares, the short-interest ratio is currently 10.4 days.
BP Prudhoe Bay Royalty Trust Stock Performance
NYSE:BPT opened at $1.71 on Friday. The firm’s 50-day moving average is $2.07 and its 200-day moving average is $2.29. BP Prudhoe Bay Royalty Trust has a 52-week low of $1.46 and a 52-week high of $7.67.
Hedge Funds Weigh In On BP Prudhoe Bay Royalty Trust
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. RS Crum Inc. acquired a new stake in shares of BP Prudhoe Bay Royalty Trust during the 2nd quarter worth approximately $50,000. Oppenheimer & Co. Inc. lifted its position in BP Prudhoe Bay Royalty Trust by 129.2% in the first quarter. Oppenheimer & Co. Inc. now owns 90,620 shares of the oil and gas company’s stock worth $220,000 after purchasing an additional 51,087 shares during the period. Finally, StoneX Group Inc. acquired a new stake in BP Prudhoe Bay Royalty Trust during the first quarter worth $92,000. 5.66% of the stock is currently owned by institutional investors.
BP Prudhoe Bay Royalty Trust Company Profile
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.
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