Arrow Investment Advisors LLC Has $632,000 Stake in SandRidge Permian Trust (PER)
Arrow Investment Advisors LLC raised its position in SandRidge Permian Trust (NYSE:PER) by 7.0% during the second quarter, Holdings Channel reports. The firm owned 243,152 shares of the company’s stock after buying an additional 15,891 shares during the period. Arrow Investment Advisors LLC’s holdings in SandRidge Permian Trust were worth $632,000 at the end of the most recent reporting period.
Separately, Huntington National Bank acquired a new position in shares of SandRidge Permian Trust during the second quarter worth about $190,000. 10.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of SandRidge Permian Trust (NYSE:PER) traded down 1.06% during trading on Tuesday, reaching $2.79. The company’s stock had a trading volume of 74,495 shares. The company has a market capitalization of $146.47 million, a P/E ratio of 3.69 and a beta of 1.08. SandRidge Permian Trust has a 12 month low of $2.01 and a 12 month high of $4.99. The company’s 50-day moving average is $2.66 and its 200-day moving average is $2.59.
A number of equities analysts recently issued reports on PER shares. Roth Capital reissued a “buy” rating on shares of SandRidge Permian Trust in a report on Tuesday, July 12th. Canaccord Genuity reissued a “buy” rating on shares of SandRidge Permian Trust in a report on Monday, August 15th.
About SandRidge Permian Trust
Sandridge Permian Trust (the Trust) is a statutory trust. The Trust holds Royalty Interests in specified oil and natural gas properties in the Permian Basin located in Andrews County, Texas. The Trust’s business activities are generally limited to owning the Royalty Interests, and entering into hedging arrangements at the inception of the Trust and activities related thereto, including activities required or permitted by the terms of the conveyances related to the Royalty Interests.
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