San Juan Basin Royalty Trust (NYSE:SJT) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• San Juan Basin Royalty Trust's stock price has recently crossed above its 200-day moving average of $5.93, reaching a high of $6.50 and closing at $6.34.
• Significant institutional activity has been noted, with several large investors acquiring and increasing their positions in the trust during the second quarter.
• The trust operates as an express trust in Texas and holds a 75% net overriding royalty interest in oil and natural gas properties in the San Juan Basin of northwestern New Mexico.

San Juan Basin Royalty Trust (NYSE:SJT - )'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.93 and traded as high as $6.50. San Juan Basin Royalty Trust shares last traded at $6.34, with a volume of 351,346 shares trading hands.

San Juan Basin Royalty Trust Trading Up 4.9%

The firm has a 50-day moving average of $5.83 and a two-hundred day moving average of $5.93.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Corient Private Wealth LLC acquired a new position in San Juan Basin Royalty Trust during the second quarter valued at $181,000. Advisory Services Network LLC raised its position in San Juan Basin Royalty Trust by 392.2% during the second quarter. Advisory Services Network LLC now owns 237,397 shares of the oil and gas producer's stock valued at $1,436,000 after buying an additional 189,170 shares during the period. Raymond James Financial Inc. raised its position in San Juan Basin Royalty Trust by 13.6% during the second quarter. Raymond James Financial Inc. now owns 338,062 shares of the oil and gas producer's stock valued at $2,022,000 after buying an additional 40,363 shares during the period. Pecaut & CO. raised its position in San Juan Basin Royalty Trust by 200.0% during the second quarter. Pecaut & CO. now owns 30,000 shares of the oil and gas producer's stock valued at $179,000 after buying an additional 20,000 shares during the period. Finally, Intrepid Family Office LLC acquired a new position in San Juan Basin Royalty Trust during the second quarter valued at $63,000. 10.42% of the stock is owned by institutional investors and hedge funds.

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.

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