San Juan Basin Royalty Trust (NYSE:SJT) Stock Passes Above 200-Day Moving Average – Here’s What Happened

San Juan Basin Royalty Trust (NYSE:SJT) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.89 and traded as high as $4.50. San Juan Basin Royalty Trust shares last traded at $4.50, with a volume of 435,495 shares changing hands.

San Juan Basin Royalty Trust Stock Performance

The company has a market cap of $222.33 million, a PE ratio of 17.67 and a beta of 0.86. The stock’s 50-day simple moving average is $4.07 and its 200 day simple moving average is $3.90.

Institutional Investors Weigh In On San Juan Basin Royalty Trust

Hedge funds have recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC raised its stake in shares of San Juan Basin Royalty Trust by 260.5% during the 3rd quarter. Mountaineer Partners Management LLC now owns 2,660,500 shares of the oil and gas producer’s stock worth $9,844,000 after buying an additional 1,922,570 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its position in San Juan Basin Royalty Trust by 23.2% in the third quarter. Horizon Kinetics Asset Management LLC now owns 1,291,926 shares of the oil and gas producer’s stock worth $4,780,000 after acquiring an additional 242,871 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in San Juan Basin Royalty Trust by 33.4% in the third quarter. Moors & Cabot Inc. now owns 117,950 shares of the oil and gas producer’s stock valued at $436,000 after acquiring an additional 29,550 shares during the period. Ingalls & Snyder LLC boosted its position in shares of San Juan Basin Royalty Trust by 60.0% during the 3rd quarter. Ingalls & Snyder LLC now owns 55,694 shares of the oil and gas producer’s stock worth $206,000 after purchasing an additional 20,896 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of San Juan Basin Royalty Trust during the 3rd quarter worth $150,000. Institutional investors and hedge funds own 10.42% of the company’s stock.

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 in Southland’s oil and natural gas interests in properties located in the San Juan Basin in northwestern New Mexico. It also owns 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.