SandRidge Permian Trust (NYSE:PER) dropped 2.4% during trading on Thursday . The stock traded as low as $2.44 and last traded at $2.46, with a volume of 67,618 shares traded. The stock had previously closed at $2.52.

Separately, Zacks Investment Research upgraded shares of SandRidge Permian Trust from a “sell” rating to a “hold” rating in a report on Thursday, March 31st.

The stock has a 50-day moving average of $2.45 and a 200-day moving average of $2.56. The stock has a market capitalization of $130.20 million and a PE ratio of 2.06.

An institutional investor recently raised its position in SandRidge Permian Trust stock. GSA Capital Partners LLP boosted its position in SandRidge Permian Trust (NYSE:PER) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 531,693 shares of the company’s stock after buying an additional 43,942 shares during the period. GSA Capital Partners LLP owned about 1.01% of SandRidge Permian Trust worth $1,579,000 at the end of the most recent quarter.

Sandridge Permian Trust is a statutory trust formed under the Delaware Statutory Trust Act pursuant to a trust agreement by and among SandRidge Energy, Inc (SandRidge), as Trustor, The Bank of New York Mellon Trust Company, N.A., as Trustee (the Trustee), and The Corporation Trust Company, as Delaware Trustee (the Delaware Trustee).

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