Scully Royalty (NYSE:SRL) Trading Down 5.4% - Here's What Happened

Key Points

• Scully Royalty Ltd. shares experienced a decline of 5.4%, closing at $5.72 compared to a previous close of $6.05.
• An institutional investor, Nantahala Capital Management LLC, increased its stake in Scully Royalty by 54.1%, owning approximately 2.49% of the company's shares as of the most recent SEC filing.
• The company operates in multiple regions as an iron ore mining firm and has royalty interests in the Scully iron ore mine in Newfoundland and Labrador, Canada.

Shares of Scully Royalty Ltd. (NYSE:SRL - ) traded down 5.4% during trading on Friday . The stock traded as low as $5.51 and last traded at $5.72. 4,151 shares changed hands during mid-day trading, an increase of 0% from the average session volume of 4,142 shares. The stock had previously closed at $6.05.

Scully Royalty Trading Down 5.4%

The company's 50 day moving average is $6.16 and its 200 day moving average is $7.21. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.12.

Hedge Funds Weigh In On Scully Royalty

An institutional investor recently raised its position in Scully Royalty stock. Nantahala Capital Management LLC increased its position in Scully Royalty Ltd. (NYSE:SRL - Free Report) by 54.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 368,596 shares of the financial services provider's stock after purchasing an additional 129,399 shares during the quarter. Nantahala Capital Management LLC owned approximately 2.49% of Scully Royalty worth $3,410,000 as of its most recent SEC filing. 41.96% of the stock is currently owned by hedge funds and other institutional investors.

Scully Royalty Company Profile

Scully Royalty Ltd. operates as an iron ore mining company in the Americas, Africa, Canada, Asia, and Europe. It operates through three segments: Royalty, Industrial, and Merchant Banking. The company holds royalty interest in the Scully iron ore mine located in the Province of Newfoundland and Labrador, Canada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.