San Juan Basin Royalty Trust (NYSE:SJT) Sees Significant Decline in Short Interest

San Juan Basin Royalty Trust (NYSE:SJT) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 82,600 shares, a drop of 18.5% from the March 31st total of 101,300 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 137,500 shares, the short-interest ratio is presently 0.6 days.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealthsource Partners LLC increased its holdings in San Juan Basin Royalty Trust by 1.3% in the fourth quarter. Wealthsource Partners LLC now owns 401,749 shares of the oil and gas producer’s stock worth $1,073,000 after buying an additional 5,249 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of San Juan Basin Royalty Trust by 3.9% during the 4th quarter. Wells Fargo & Company MN now owns 265,963 shares of the oil and gas producer’s stock worth $710,000 after purchasing an additional 9,959 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of San Juan Basin Royalty Trust during the 4th quarter valued at $74,000. 14.76% of the stock is owned by institutional investors and hedge funds.

SJT traded down $0.04 during trading on Tuesday, reaching $5.04. 165,396 shares of the stock traded hands, compared to its average volume of 141,321. The stock’s 50-day simple moving average is $4.27 and its two-hundred day simple moving average is $3.65. San Juan Basin Royalty Trust has a fifty-two week low of $2.16 and a fifty-two week high of $5.12. The stock has a market cap of $234.91 million, a price-to-earnings ratio of 45.82 and a beta of 0.48.

The company also recently declared a monthly dividend, which will be paid on Friday, May 14th. Stockholders of record on Friday, April 30th will be paid a dividend of $0.0262 per share. This represents a $0.31 dividend on an annualized basis and a dividend yield of 6.23%. The ex-dividend date of this dividend is Thursday, April 29th.

About San Juan Basin Royalty Trust

San Juan Basin Royalty Trust operates as an express trust in Texas. The company has a 75% net overriding royalty interest carved out of Southland's oil and natural gas interests (the Subject Interests) in properties located in the San Juan Basin in northwestern New Mexico. The Subject Interests consist of working interests, royalty interests, overriding royalty interests, and other contractual rights in 119,000 net producing acres in San Juan, Rio Arriba, and Sandoval Counties of northwestern New Mexico, as well as 825.9 net wells.

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