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

Separately, Zacks Investment Research downgraded shares of SandRidge Permian Trust from a “hold” rating to a “sell” rating in a report on Friday, March 25th.

The firm’s 50 day moving average is $2.46 and its 200-day moving average is $2.56. The company has a market capitalization of $128.10 million and a PE ratio of 2.03.

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

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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