Short Interest in BP Prudhoe Bay Royalty Trust (NYSE:BPT) Expands By 21.2%

BP Prudhoe Bay Royalty Trust (NYSE:BPT) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 2,230,000 shares, an increase of 21.2% from the September 30th total of 1,840,000 shares. Based on an average daily volume of 154,400 shares, the short-interest ratio is presently 14.4 days. Currently, 10.4% of the shares of the company are sold short.

BP Prudhoe Bay Royalty Trust Stock Performance

BPT traded down $0.01 during midday trading on Wednesday, hitting $1.05. 86,981 shares of the company traded hands, compared to its average volume of 155,190. BP Prudhoe Bay Royalty Trust has a 52-week low of $1.00 and a 52-week high of $4.91. The business has a 50 day simple moving average of $1.33 and a two-hundred day simple moving average of $1.87.

Hedge Funds Weigh In On BP Prudhoe Bay Royalty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BPT. Oppenheimer & Co. Inc. lifted its holdings in BP Prudhoe Bay Royalty Trust by 129.2% during the first 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 in the last quarter. StoneX Group Inc. purchased a new position in shares of BP Prudhoe Bay Royalty Trust in the first quarter worth about $92,000. RS Crum Inc. purchased a new position in shares of BP Prudhoe Bay Royalty Trust in the second quarter worth about $50,000. Finally, Welch Group LLC lifted its stake in shares of BP Prudhoe Bay Royalty Trust by 60.3% in the third quarter. Welch Group LLC now owns 33,759 shares of the oil and gas company’s stock worth $35,000 after buying an additional 12,700 shares in the last quarter. 5.66% of the stock is owned by hedge funds and other 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.