Short Interest in Scully Royalty Ltd. (NYSE:SRL) Grows By 683.3%
by Tristan Rich · The Markets DailyScully Royalty Ltd. (NYSE:SRL – Get Free Report) was the target of a large increase in short interest in March. As of March 31st, there was short interest totaling 11,412 shares, an increase of 683.3% from the March 15th total of 1,457 shares. Based on an average trading volume of 26,249 shares, the short-interest ratio is currently 0.4 days. Approximately 0.1% of the company’s stock are sold short.
Scully Royalty Trading Up 1.1%
Shares of NYSE:SRL traded up $0.08 during mid-day trading on Friday, reaching $7.49. The company had a trading volume of 781 shares, compared to its average volume of 19,853. The company’s 50-day moving average price is $8.52 and its 200-day moving average price is $7.30. Scully Royalty has a one year low of $5.13 and a one year high of $10.39.
Institutional Investors Weigh In On Scully Royalty
An institutional investor recently bought a new position in Scully Royalty stock. KERR FINANCIAL PLANNING Corp purchased a new position in Scully Royalty Ltd. (NYSE:SRL – Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,964 shares of the financial services provider’s stock, valued at approximately $86,000. KERR FINANCIAL PLANNING Corp owned 0.10% of Scully Royalty at the end of the most recent quarter. 41.96% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Scully Royalty in a research report on Wednesday, January 21st. Wall Street Zen raised shares of Scully Royalty to a “hold” rating in a research report on Saturday, March 7th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.
View Our Latest Stock Analysis on SRL
Scully Royalty Company Profile
Scully Royalty Ltd. is a mineral royalty company that acquires, owns and manages a diversified portfolio of oil and gas royalty and overriding royalty interests in key onshore producing regions of the United States. As a royalty owner, the company receives a percentage of production revenue from its assets without assuming the operational and capital expenditure burdens associated with exploration and development.
The company’s portfolio spans multiple established hydrocarbon basins, including conventional and unconventional plays.