BP Prudhoe Bay Royalty Trust (NYSE:BPT) Short Interest Update

BP Prudhoe Bay Royalty Trust (NYSE:BPT) saw a significant decline in short interest in June. As of June 30th, there was short interest totalling 1,370,000 shares, a decline of 8.1% from the June 15th total of 1,490,000 shares. Currently, 6.4% of the company’s stock are sold short. Based on an average daily volume of 140,100 shares, the days-to-cover ratio is currently 9.8 days.

BP Prudhoe Bay Royalty Trust Trading Down 4.2 %

Shares of NYSE BPT traded down $0.10 during mid-day trading on Wednesday, hitting $2.30. 94,022 shares of the stock traded hands, compared to its average volume of 150,417. BP Prudhoe Bay Royalty Trust has a 52 week low of $2.00 and a 52 week high of $8.17. The stock has a fifty day moving average price of $2.36 and a 200-day moving average price of $2.45.

Institutional Investors Weigh In On BP Prudhoe Bay Royalty Trust

Several hedge funds have recently made changes to their positions in the company. Oppenheimer & Co. Inc. boosted its position in shares of 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. bought a new stake in shares of BP Prudhoe Bay Royalty Trust during the first quarter valued at approximately $92,000. Narwhal Capital Management boosted its holdings in 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 acquiring an additional 9,737 shares in the last quarter. Finally, Welch Group LLC boosted its holdings in BP Prudhoe Bay Royalty Trust by 27.2% in the fourth quarter. Welch Group LLC now owns 21,059 shares of the oil and gas company’s stock worth $52,000 after acquiring an additional 4,500 shares in the last quarter. 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.