BP Prudhoe Bay Royalty Trust (NYSE:BPT) Short Interest Down 9.9% in August

BP Prudhoe Bay Royalty Trust (NYSE:BPT) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 1,370,000 shares, a drop of 9.9% from the August 15th total of 1,520,000 shares. Approximately 6.4% of the shares of the company are short sold. Based on an average daily volume of 118,700 shares, the short-interest ratio is presently 11.5 days.

Institutional Investors Weigh In On BP Prudhoe Bay Royalty Trust

Several hedge funds and other institutional investors have recently modified their holdings of BPT. Oppenheimer & Co. Inc. grew its stake in shares of 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 acquiring an additional 51,087 shares during the last quarter. StoneX Group Inc. bought a new position in BP Prudhoe Bay Royalty Trust in the first quarter worth $92,000. Finally, RS Crum Inc. bought a new position in BP Prudhoe Bay Royalty Trust in the second quarter worth $50,000. Institutional investors and hedge funds own 5.66% of the company’s stock.

BP Prudhoe Bay Royalty Trust Trading Down 1.3 %

Shares of BP Prudhoe Bay Royalty Trust stock traded down $0.02 during midday trading on Wednesday, hitting $1.47. The company had a trading volume of 67,916 shares, compared to its average volume of 144,727. The business’s 50 day simple moving average is $1.72 and its two-hundred day simple moving average is $2.14. BP Prudhoe Bay Royalty Trust has a 1-year low of $1.40 and a 1-year high of $7.67.

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.