San Juan Basin Royalty Trust (NYSE:SJT) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• San Juan Basin Royalty Trust (NYSE:SJT) shares rose above their 200-day moving average of $5.79, closing at $5.76 while trading at a high of $5.85.
• Institutional investors increased their holdings significantly, with Advisory Services Network LLC growing its stake by 392.2% in the second quarter.
• The trust holds a 75% net overriding royalty interest in oil and natural gas properties in the San Juan Basin, covering 119,000 net-producing acres in northwestern New Mexico.

San Juan Basin Royalty Trust (NYSE:SJT - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.79 and traded as high as $5.85. San Juan Basin Royalty Trust shares last traded at $5.76, with a volume of 143,283 shares changing hands.

San Juan Basin Royalty Trust Stock Up 0.2%

The business's 50 day moving average price is $5.90 and its 200-day moving average price is $5.83.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC bought a new position in San Juan Basin Royalty Trust in the 2nd quarter worth approximately $69,955,000. Horizon Kinetics Asset Management LLC raised its position in San Juan Basin Royalty Trust by 86.0% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 4,594,502 shares of the oil and gas producer's stock worth $27,475,000 after purchasing an additional 2,124,370 shares during the last quarter. Principia Wealth Advisory LLC raised its position in San Juan Basin Royalty Trust by 3,003.3% in the 1st quarter. Principia Wealth Advisory LLC now owns 653,767 shares of the oil and gas producer's stock worth $3,354,000 after purchasing an additional 632,700 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its position in San Juan Basin Royalty Trust by 0.3% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 641,226 shares of the oil and gas producer's stock worth $3,835,000 after purchasing an additional 1,983 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its position in San Juan Basin Royalty Trust by 74.1% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 485,815 shares of the oil and gas producer's stock worth $2,900,000 after purchasing an additional 206,780 shares during the last quarter. Institutional investors 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.